Powell: Economy will not be confident until world is vaccinated

The chairman of the United States Federal Reserve expressed concern about an ‘uneven’ US and global recovery during an International Monetary Fund debate on Thursday. 

Viruses do not respect borders, and until the world is fully vaccinated against the coronavirus, the global and United States economies will not be able to resume activity with confidence, Jerome Powell, the chairman of the US Federal Reserve, warned on Thursday. “We got a taste of what faster progress will look like,” Powell said at an International Monetary Fund (IMF) debate on the global economic recovery. “The recovery, though here, remains uneven and incomplete. The burden is still falling on lower-income workers and the unemployment rate in the bottom quartile is still 20 percent,” he added, referring to unemployment statistics in the US.