Federal Reserve Chair Jerome Powell listens during a Senate Banking Committee hearing on "The Quarterly CARES Act Report to Congress" on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh/Pool via REUTERS/File Photo
Meanwhile "there is still a long way to go" in repairing a labor market that is 7.5 million jobs away from its pre-pandemic level, with the burden falling hardest on lower-wage workers and major ethnic and minority groups, and the overall participation rate still depressed, Powell said. Powell is scheduled to appear before the U.S. House of Representatives Financial Services Committee at 12 p.m. EDT . On Thursday, he will testify before the Senate Banking Committee at 9:30 a.m. EDT .
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