Upbeat on US economy, Yellen and Powell say more must be done

Both US Treasury Secretary Janet Yellen and Fed Chair Jerome Powell on Tuesday warned that the economy still needs more support to fully recover from the ravages of the coronavirus pandemic.

Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell say more must be done to limit the damage from the coronavirus pandemic and to promote a full economic recovery in the United States. While both struck upbeat notes about the future of the economy in prepared testimony Tuesday before the House Financial Services Committee, they also warned that the economy needs help. It marked the first joint appearance by the two economic leaders in their current jobs and it was Yellen’s first congressional appearance since taking over as Treasury secretary.