The chairman of the Federal Reserve says the US economy could “easily” contract by 20-30% amid the pandemic. Jerome Powell added in a CBS interview that the economic downturn might last until late 2021, and a full rebound may not be happen until a vaccine is found. However, he expressed confidence the economy would recover, and said he would never bet against the US economy. Earlier this week, Mr Powell had called on US lawmakers to pass more economic stimulus and relief aid. More than 36 million Americans have filed for unemployment benefits since mid-March. How worried should we be? In an interview with CBS’ 60 minutes , Mr Powell said: “This is a time of great suffering and difficulty… you can’t really put into words the pain people are feeling. “This economy will recover. It may take a while,” he said. “It could stretch through the end of […]