Fed's Powell Says Recovery Is 'Far From Complete'

The transcript discusses the swift actions taken by Congress and the Federal Reserve to support the economy during the pandemic. It highlights the dependency of economic recovery on the virus's course and the hope offered by vaccinations. Economic indicators show improvement, with increased spending and employment, although challenges remain, particularly in sectors affected by the virus. The unemployment rate is still high, and labor market participation is below pre-pandemic levels.

What was one of the key actions taken to prevent the worst economic outcomes during the downturn?

• Increasing taxes

• Swift action by Congress and the Federal Reserve

• Reducing government spending

• Implementing trade barriers

What factor is crucial for the economic recovery according to the second section?

• International trade agreements

• The level of interest rates

• The stock market performance

• The course of the virus and vaccination efforts

Which sector has shown a notable recovery according to the second section?

• Technology sector

• Housing sector

• Automobile industry

• Retail sector

In February, which sector regained a significant portion of jobs lost in previous months?

• Manufacturing

• Leisure and hospitality

• Education

• Healthcare

What is a continuing challenge in the labor market despite recent improvements?

• Lack of technological advancements

• Elevated unemployment rate and low labor market participation

• High inflation rates

• Decreasing consumer confidence