Federal Reserve Chairman Jerome Powell said in a news conference on July 28 that he does not see the Delta variant of the CCP virus as a major threat to the U.S. economy. “What we’ve seen is with successive waves of COVID over the past year and some months now,” Powell said at a news conference, “there has tended to be less in the way of economic implications from each wave. We will see whether that is the case with the Delta variety, but it’s certainly not an unreasonable expectation.” When the pandemic hit the U.S. last year, the Federal Reserve dropped its benchmark interest rate to zero and committed to purchasing $120 billion in bonds every month in a bid to prop up the economy. Powel made no change to either policy on Wednesday, but said that the United States is moving closer to the “substantial further progress” that the Federal …
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