Fed Chair Jerome Powell said in a speech, while the US economy is “not out of the woods yet”, “real progress” was being made and economic outlook has “clearly brightened”. The economy is “reopening, bringing stronger economic activity and job creation.”.
But at “street level”, lives and livelihoods have been affected in ways that vary from “person to person, family to family, and community to community”. “The economic downturn has not fallen evenly on all Americans, and those least able to bear the burden have been the hardest hit,” Powell added.
