(Bloomberg) — Federal Reserve Chairman Jerome Powell said that while U.S. unemployment data for August was positive, the economy’s recovery from the coronavirus pandemic has a long road ahead and interest rates will remain low for a long time.
“The recovery is continuing; we do think it will get harder from here,” Powell told National Public Radio in an interview Friday. “Today’s jobs report was a good one,” he said, adding that “to get us back to full employment, we’re going to have to get the disease under control.”
Photographer: Andrew Harrer/Bloomberg
“There may be a modest slowing in the pace of improvement, but improvement goes on. And in the labor market, I would say it goes on at least at the pace we expected.”
Powell spoke hours after a report showed the