Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage....
...“Deeper and longer recessions can leave behind lasting damage to the productive capacity of the economy,” the chairman warned in his prepared remarks before holding an online discussion with the Peterson Institute for International Economics. “Avoidable household and business insolvencies can weigh on growth for years to come.”...
...Powell, in his remarks Wednesday, underscored some of the painful consequences of the recession. Among people who had been working in February, nearly 40% of households earning less than $40,000 a year lost a job in March, Powell said....
Tony Evers will try again to keep the working poor poor, not 'working.' It's the very best way to keep them on the plantation--exactly where Tony wants them.
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