New York (CNN Business)America is on the long road to economic recovery from the pandemic recession, but dark clouds remain on the horizon.
The recovery is far from complete, and the US economy remains of danger of shifting into reverse once again. One major risk factor: A rise in Covid-19 infections, Federal Reserve Chairman Jerome Powell said Tuesday at the National Association for Business Economics annual meeting.
A second wave of coronavirus could “more significantly limit economic activity, not to mention the tragic effects on lives and well-being,” Powell said. “Managing this risk as the expansion continues will require following medical experts’ guidance, including using masks and social-distancing measures.”
In addition to gaining control of the pandemic, Powell reiterated his calls for more fiscal stimulus aimed at supporting America’s most vulnerable.