Powell: Uncertainty in Economic Path Extremely High, Downside Risks Have Increased

Federal Reserve Chairman Powell stated that the uncertainty of the economic path is extremely high, and downside risks have increased. Uncertainty may be reflected in weak economic data; the risks of rising unemployment and inflation have increased but have not yet appeared in the data; the correct approach is to wait for further certainty. Businesses and households are generally concerned, and if no measures are taken to alleviate these concerns, they are expected to manifest in the data in weeks or months.