Powell, on the other hand, stressed bringing the health crisis to heel before the economy can regain its footing. The jobless rate will remain above 15 percent through September, according to a new estimate from the Congressional Budget Office. And here's the checkmark-shaped recovery in economic activity it foresees:(via the Congressional Budget Office)The latest economic indicators point to extended pain. Many economists fear cutting off the benefit extension could hamper the economic recovery." (Jabin Botsford/The Washington Post)Some senators pressured Powell and Mnuchin to do more to rescue the economy.

Source: Washington Post May 20, 2020 12:11 UTC