Powell Says More Fiscal Support Is Likely to Be Needed

The transcript discusses the pace of economic recovery, highlighting the initial rapid and effective fiscal response. It outlines economic projections for 2020-2023, expecting a slowdown in recovery pace after initial gains. The need for additional fiscal support is emphasized, given the ongoing unemployment and challenges faced by small businesses and local governments. The conclusion notes that most private forecasters assume further fiscal support will be necessary for continued recovery.

What is the expected trend for the pace of economic recovery according to the transcript?

• It will decline steadily over time.

• It will slow down initially and then speed up.

• It will remain constant throughout.

• It will be fastest at the beginning and then slow down.

What was the nature of the initial response from fiscal authorities?

• Minimal and cautious

• Slow and ineffective

• Delayed but effective

• Rapid and forceful

Which of the following areas showed positive effects from the initial fiscal response?

• Environmental policies

• International trade

• Healthcare systems

• Income and household spending

Why is additional fiscal support considered necessary according to the transcript?

• To increase government revenue

• To assist those still out of work and struggling businesses

• To support industries unaffected by the pandemic

• To reduce taxes for large corporations

What assumption do private forecasters make about the ongoing recovery?

• There will be no need for further fiscal support.

• The recovery will be faster than expected.

• The recovery will happen without any government intervention.

• Substantial additional fiscal support will be provided.