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Powell: Congress, Fed need to 'stay with' aid

Reuters Videos
Updated

Despite progress in rebounding from the coronavirus economic downturn, "there is a long way to go," with millions still jobless compared to where the economy was in February, Powell told the Select Subcommittee on the Coronavirus Crisis on Wednesday.

He urged both Congress and the Federal Reserve "to stay with" stimulus measures that will ultimately cause the recovery to go faster.

Powell will testify again on Thursday, this time before the Senate Banking Committee.