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"It’s so fundamental": Fed chair says path of the economy depends on path of coronavirus

The Federal Reserve sees a slowing pace of economic growth after the coronavirus outbreak began to worsen in June, chairman Jerome Powell told reporters on Wednesday.

Why it matters: Powell's comments came as theFed took its most forceful tone yet to emphasize that the fate of the economy is inextricably linked to the course of the virus — alluding to the fact there is no trade-off between the economy and the pandemic, and that economic recovery is all but impossible if the virus isn't contained.

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