Despite the havoc being wreaked on the world by the coronavirus outbreak, Federal Reserve Chair Jerome Powell said Thursday he expects a "robust" economic recovery once the spread of the virus is under control.
Powell noted in an online speech sponsored by the Brookings Institution that the Fed will continue to do all it can to shepherd the economy through this difficult time.
"When the spread of the virus is under control, businesses will reopen, and people will come back to work," Powell said in prepared remarks. "There is every reason to believe that the economic rebound, when it comes, can be robust."
For comments and feedback contact: editorial@rttnews.com
Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.