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    Fed's Powell Says Sharp Downturn Won't Last

    Fed Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the pandemic. But he says this will not be another Great Depression.
    by Scott Horsley May 18, 2020 1 minute
    Federal Reserve Chairman Jerome Powell says while the coronavirus is likely to cause Depression-era levels of unemployment, the economy should recover faster than it did in the 1930s.

    Federal Reserve Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the coronavirus pandemic. But he says this will not be another Great Depression.

    "It's going with that aired Sunday. "It should be a much shorter downturn than you would associate with the 1930s."

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