Fed chairman Powell warns downturn 'may last until late 2021' - BBC News
The chairman of the US Federal Reserve has warned that the American economy may not recover from the coronavirus pandemic until late 2021.
Jerome Powell added in a CBS interview that a full rebound may not be possible until a vaccine for the virus is discovered.
Earlier this week, Mr Powell had called on US lawmakers to pass more economic stimulus and relief aid.
Over 36m Americans have filed for unemployment benefits since mid-March.
