Washington Post

Federal Reserve predicts slow recovery with unemployment at 9.3 percent by end of 2020

Fed Chair Jerome Powell stressed Wednesday that more aid from Congress and the central bank is likely to be needed, especially since a substantial number of Americans may never get their jobs back. Foto: Kevin Lamarque

WASHINGTON - Federal Reserve leaders predict a slow recovery for the U.S. economy, with unemployment falling to 9.3 percent by the end of this year and to 6.5 percent by the end of 2021, after tens of millions of Americans lost their jobs in the stunning recession caused by the outbreak of the novel coronavirus.

Fed Chair Jerome Powell stressed Wednesday that more aid from Congress and the central bank is likely to be needed, especially since a substantial number of Americans may never get their jobs back...

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