Federal Reserve Board Chairman Jerome Powell warned Tuesday that the U.S. economy’s recovery from the recession triggered by the coronavirus crisis may falter if the virus is not controlled and economic growth is not sustained.
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Over time, household insolvencies and business bankruptcies would rise, harming the productive capacity of the economy, and holding back wage growth.”
A man wearing a mask walks by Century 21 department store, Sept. 30, 2020 in the Brooklyn borough of New York.
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continue to negotiate a rescue package of $2 trillion or more, but the chances of a deal being reached remain slim.
In a letter to Democratic lawmakers Nancy Pelosi said $2.2 Trillion legislation 'includes new funding needed to avert catastrophe for schools, small businesses, restaurants, performance spaces, airline workers and other'
The accord is aimed at keeping any possibility of a government shutdown off the table despite ongoing battles over COVID-19 relief legislation
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