Fed’s Powell warns on COVID, sees inflation unlikely

Federal Reserve Chair Jerome Powell on Thursday signaled the central bank is nowhere near to reducing its support for the U.S. economy, noting that an expected rise in prices this year is likely to be temporary, and warning that an uptick in COVID-19 cases could slow the recovery. “Cases are moving back up here, so I would just urge that people do get vaccinated and continue socially distancing,” said Powell, who has been vaccinated himself, speaking at an economic forum during the virtual International Monetary Fund and World Bank meetings. “We don’t want to get another outbreak: even if it might have less … (full story)

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