Fed chair warns US economic recovery 'uneven and far from complete'

  • Jerome Powell worried by high unemployment in US economy
  • Rejects Republican suggestion stimulus will lead to inflation

The US economic recovery “remains uneven and far from complete,” federal reserve chair Jerome Powell told a committee of US senators Tuesday.

In his semi-annual update on monetary policy, his first delivered under Joe Biden’s presidency, Powell indicated the Federal Reserve would not be changing monetary policy any time soon, given the slow recovery in the labor market.

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