The\u00a0US economy came faster than expected, but recovery is still \u201cfar from complete\u201d, Chair of the Federal Reserve Jerome Powell said.<\/p>\n\n\n\n
Powell said that the US Federal Reserve will continue on the right track in order to return the US economy to the right track, and to help the Americans who are suffering.<\/p>\n\n\n\n
Powell indicated that the economy is gradually strengthening, in a sign that gives investors reassurances about the strongest economy in the world.<\/p>\n\n\n\n
He attributed this largely to the unprecedented fiscal and monetary policies that provided essential support to families, businesses and communities.<\/p>\n\n\n\n
\u201cHowever, the sectors of the economy most adversely affected by the resurgence of the virus, and by greater social distancing, remain weak, he Powell said.<\/p>\n\n\n\n
\u201cThe unemployment rate \u2014 still elevated at 6.2% \u2014 underestimates the shortfall, particularly as labor market participation remains notably below pre-pandemic levels\u201d.<\/p>\n\n\n\n
He said the Fed will not lose sight of the millions of Americans who are still hurting, including lower-wage workers in the services sector, African Americans, Hispanics and other minority groups that have been especially hard hit.<\/p>\n\n\n\n
Also, US Treasury Secretary Janet Yellen, who will participate in the session before the House of Representatives with Jerome Powell, today, Tuesday, is expected to confirm that the employment rate may return to the same as it was in early 2022 thanks to the stimulus plan approved by President Joe Biden.<\/p>\n\n\n\n