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Powell Sees Risk of Long-Term Economic Damage

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“Federal Reserve Chairman Jerome Powell said the economy faces significant long-term damage from higher unemployment and a wave of small business failures due to the coronavirus pandemic, despite recent signs of improvement,” the Wall Street Journal reports.

Said Powell: “Until the public is confident that the disease is contained, a full recovery is unlikely… If not contained and reversed, the downturn could further widen gaps in economic well-being that the long expansion had made some progress in closing.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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