Fed Chairman Jerome Powell Federal ReserveHow bad is the coronavirus economy? "We are going to see economic data for the second quarter that is worse than any data we have seen for the economy," Powell said. The recovery will be long and painful, but the economy could begin to bounce back significantly in the third quarter as businesses reopen, he added. And in time, during this period, the economy will begin to recover," Powell said. Just a few months ago, the US labor market was the best-ever for minorities, Powell noted.

Source: CNN April 29, 2020 19:41 UTC