By Carmen Reinicke
Federal Reserve Chair Jerome Powell (click here) cautioned on Wednesday that the US economic recovery from the fallout of the coronavirus would likely be slow and require more fiscal stimulus.
The recovery "may take some time to gather momentum, and the passage of time can turn liquidity problems into solvency problems," Powell said in an event for the Peterson Institute for International Economics.
He continued: "Additional fiscal support could be costly but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery."...
