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Powell Confident Recession Will Be Transient

Washington, D.C. – Speaking to congress today, Federal Reserve Chairman Jerome Powell attempted to allay economic concerns by stressing that any coming recession would certainly be transient. “We don’t see any reason that the coming downturn would be sticky,” the two-term Fed Chair declared, “I’d say it’s two, three months max.” The two-term Fed Chair went on to emphasize that this was mostly a supply bottleneck issue, “like microchips, you know?”

When asked if he was concerned that like inflation

“Oh yeah, microchips,