US Federal Reserve Chair Jerome Powell, citing the country's push after World War Two to find jobs for returning soldiers, on Wednesday called for a broad national effort to get Americans back to work after the pandemic, particularly minorities and workers ousted from lower-paying jobs. "It will require a society-wide commitment, with contributions from across government and the private sector." Recovery, Powell said, would require both "near-term policy and longer-run investments" to ensure anyone who wants a job can get one. Powell, in keeping with longstanding Fed tradition, did not comment directly on those proposals, the province of the elected officials who wield taxing and spending authority. During the pandemic, Fed policymakers have generally set concerns about the level of federal debt to the side and focused more on the economy's immediate needs.

Source: Mint February 11, 2021 05:11 UTC