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Fed Chair Powell: Economic Outlook Improving, But Recovery Will Take Longer

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FILE -Chairman of the Federal Reserve Jerome Powell (AP Photo/Susan Walsh, Pool)

Federal Reserve Chairman Jerome Powell says the nation’s economic outlook is getting better, but the recovery is far from complete.

In an opinion piece for the Wall Street Journal, Powell said the Fed will continue to provide support for the economy as long as it takes. He added the U.S. will eventually emerge from the pandemic stronger and better.

Policymakers signaled this week the Fed will keep interest rates at historic lows through 2023 despite a forecast for stronger growth and higher inflation.

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