US Fed head Chairman Powell predicted years of recovery for the labor market of the country. According to him, this is shown by the experience of previous periods in the development of the economy.

As Powell stated, extended periods of unemployment can create long-term damage to the lives and well-being of people, as well as dilute the productive capacity of an economy. “We know from the previous period of economic development that it can take many years to reverse this damage,” he added. According to the head of the FRS, at this moment the USA is very far from forming a strong labor market.

Meanwhile, Powell mentioned that there is no need to worry now about the country’s public debt. According to him, the United States is now still very far from taking into account the ability of the federal government to finance itself in its policy.