Fed chair Powell warns of economic recovery "slog"

There's a risk the U.S. economy is in for a "longer than expected slog back to full recovery," Fed chairman Jerome Powell said at the National Association for Business Economics' virtual conference on Tuesday.

Why it matters: There was a sharp rebound when the economy reopened from the pandemic shutdown, but there are signs the bounce back is petering out. Powell said there's little risk of "overdoing" economic support, a nod to Congress — which it is at a stalemate over additional stimulus.