• Vincent Pucillo

Rising Virus Cases Could Challenge Economic Recovery

After weeks of optimism for the recovery of the U.S. economy, continuously rising coronavirus cases may impact and challenge all this progress. Federal Reserve Chairman, Jerome Powell, said that it is too soon to say how progress in the global hunt for a coronavirus vaccine will influence the U.S. economy. This is made more challenging due to the increase in coronavirus infections that could make the recent economic recovery more difficult. When speaking on the implications of a vaccine, Mr. Powell went on to say, “From our standpoint, it’s just too soon to assess with any confidence the implications of the news for the path of the economy, especially in the near term.” Despite this, Mr. Powell has described that the U.S. economy is growing faster and stronger than officials expected, even though it has slowed in recent months