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Second wave of Covid-19 could derail US economic recovery: Fed chief Powell

Powell believes that the second wave of coronavirus cases would dampen consumer confidence and hurt economic recovery

US Fed chief Jerome Powell
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US Federal Reserve Chairman Jerome Powell

Agencies Washington
US Federal Reserve Chairman Jerome Powell on Friday expressed his concern about the second wave of coronavirus (Covid-19) infections. The Fed chief said there are chances of potential surge in coronavirus infections in the US and it could derail the recovery from the deep downturn triggered by the pandemic, even as he reiterated the central bank's vow to keep fighting the crisis.

Powell believes that the second wave of coronavirus cases would dampen consumer confidence and hurt economic recovery. 

"So there is clearly a risk of a second outbreak or a second wave. And you know, that

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