Federal Reserve Chairman Jerome Powell discussed the economic downturn and job losses caused by lockdowns to slow the spread of the new coronavirus, and steps taken by the central bank and the government to ease the pain. In an online speech and conversation with Peterson Institute for International Economics President Adam Posen, Mr. Powell said more policy measures may be necessary to limit long-term economic damage. Here is a transcript, lightly edited for clarity and length. ADAM POSEN: Good morning and welcome to the...
Source: Wall Street Journal May 13, 2020 15:33 UTC