U.S. Fed chief says recovery will go faster with further fiscal relief

WASHINGTON, Sept. 22 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell said Tuesday fiscal stimulus has helped support the economic recovery from the COVID-19 induced recession, noting that the recovery will go faster if there is further fiscal stimulus.

"Many economic indicators show marked improvement. Household spending looks to have recovered about three-fourths of its earlier decline, likely owing in part to federal stimulus payments and expanded unemployment benefits," Powell said in his testimony at a hearing before the House Financial Services Committee.