Powell sees need to help most vulnerable in uneven recovery

Federal Reserve Chairman Jerome Powell says the economic outlook has “clearly brightened” in the United States, but the recovery remains too uneven with lower income groups lagging behind

WASHINGTON -- Federal Reserve Chairman Jerome Powell says the economic outlook has “clearly brightened” in the United States but the recovery remains too uneven with lower income groups lagging behind. In a speech Monday, Powell cited a number of reasons that U.S. growth prospects have brightened. “We are not out of the woods yet, but I am glad to say that we are now making real progress,” Powell said in remarks to the National Community Reinvestment Coalition, citing rising vaccination levels, increased government support and more business re-openings across the country. But he said, “The economic downturn has not fallen evenly on all Americans and those least able to bear the burden have been the hardest hit.”