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Fed chairman: Rural areas have not benefited from national prosperity

Federal Reserve Chairman Jerome Powell does not feel the probability of a recession “is at all elevated,” and that the country is continuing to see solid economic growth.
But in a visit to a historically black university in the Mississippi Delta, Powell says that many rural areas have not benefited from the national prosperity. He says those areas need special support, such as access to affordable credit to start small businesses and high-quality education to train workers.

Powell says in a discussion with students at Mississippi Valley State University that he doesn’t see signs of an economic downturn. He says unemployment remains near a half-century low and describes economic output as continuing at a “solid pace.”

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