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Powell Says Have to Humble About Econ Effects of COVID

FED

Q: Is there a commitment from Treasury to extend facilities? On economy, are you comfortable that left-tail risks have been swept aside?

- A: We're just turning to the extension issue now, and have not made any decisions - we''ll make decision with the Treasury, that's all I have for you today.

Re tail risks, the ones we were worried about have subsided - we were worried about very negative potential outcomes...we've gotten through the first five, six months of the expansion better than expected, but we do see -- in Europe, look what's happening in Europe, look what's happening here -- another spike in cases as the cold weather arrives and people are inside more. So I think we have to be humble about where we are relative to this disease.

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