Powell Warns of Further Economic Tragedy Amid COVID-19

Jerome Powell Federal Reserve Economy

Federal Reserve Chairman Jerome Powell warned of the rise in COVID-19 infections as a potential cause for the economy to stall at the National Association for Business Economics annual meeting on Oct. 6.

Powell said a second wave of the coronavirus could "more significantly limit economic activity, not to mention the tragic effects on lives and well-being."

Powell also called for providing more financial stimulus for middle and working-class American citizens. He felt it will help to control the pandemic.

However, President Donald Trump stopped negotiations for a new stimulus package hours after Powell's appeal.

"I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on h...

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