We have a long way to go to reach economic recovery


US Federal Reserve Chairman Jerome Powell confirmed that “the most important thing for the economy right now is vaccination against the Corona virus.”

Powell added, “This is not the time to think about the budget deficit, although that time will come,” according to Reuters.

And he expressed his belief that his country’s economy has a long way to go to reach a full recovery, explaining that the Reserve Board does not take a position on increasing the minimum wage to $ 15 an hour in the United States.

He said, “It does not seem likely that the increase in spending will lead to large or continuous inflation,” referring to US President Joe Biden’s stimulus plan estimated at a huge value of $ 1.9 trillion.


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