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Powell warns US recovery from Covid-19 pandemic could stretch through 2021-end

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The U.S. economy will recover from the coronavirus pandemic, but the process could stretch through until the end of next year and depend on the delivery of a vaccine, said Federal Reserve Chairman Jerome Powell. “Assuming there’s not a second wave of the coronavirus, I think you’ll see the economy recover steadily through the second half of this year," the U.S.

central bank chief said in an excerpt of an interview conducted Wednesday and aired on Sunday on CBS’s “Face the Nation" show. “For the economy to fully recover people will have to be fully confident, and that may have to await the arrival of a vaccine," he said.

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