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Powell praises economic recovery and sees Fed pulling back help after ‘substantial’ progress

March 25, 2021


Powerful fiscal help from Congress combined with accelerated vaccine distribution has allowed the U.S. economy to recover faster than expected, Federal Reserve Chairman Jerome Powell said Thursday.

At some point, that will allow the central bank to dial back the help it has provided, though he said now is not that time.

“As we make substantial further progress toward our goals, we’ll gradually roll back the amount of Treasurys and mortgage-backed securities we’ve bought,” Powell told NPR’s “Morning Edition” in a live interview.

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