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Powell: Economy will need low interest rates for years
*POWELL: ECONOMY WILL NEED LOW INTEREST RATES FOR YEARS
— lemasabachthani (@lemasabachthani) September 4, 2020
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(VOTER) FED'S POWELL: THE JOBLESS RATE BETTER THAN EXPECTED; RECOVERY TO TAKE A LONG TIME - NPR ARTICLE.
— Breaking Market News (@financialjuice) September 4, 2020
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Fed's Jerome Powell: Jobless Rate Better Than Expected; Recovery To Take A Long Time
Federal Reserve Chairman Jerome Powell says the pace of jobs growth is rising faster than many people expected, but it may take years before the economy has fully recovered. Powell spoke in a wide-ranging interview with NPR on Friday, hours after the release of the August jobs report, which said unemployment continued to drift lower, falling to 8.4%. "I would say today's jobs report was a good one," he said. "Through May and June, we got quite a few people back to work." Powell also said the central bank isn't ready to let down its guard anytime soon and interest rates will stay low for a long time. "We think that ... (full story)
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