POWELL WARNS OF US ECONOMY RISK WITH PANDEMIC

Three of the world’s top central bankers warned Thursday that the prospect of a Covid-19 vaccine isn’t enough to put an end to the economic challenges created by the pandemic.

“We do see the economy continuing on a solid path of recovery, but the main risk we see to that is clearly the further spread of the disease here in the United States,” Federal Reserve Chair Jerome Powell said during a panel discussion at a virtual conference hosted by the European Central Bank. “With the virus now spreading, the next few months could be challenging.”

Powell was joined on the panel by Bank of England Governor Andrew Bailey and ECB President Christine Lagarde. Both echoed his caution, and added to recent warnings from other central bankers against complacency.

 

Source: Bloomberg