Economy not ready for Fed to remove help -Fed's Powell

Powell gave a nod to the U.S. economy's growing strength but gave no sign policymakers were ready to reduce their support for the recovery.

"What matters most to the economic recovery continues to be controlling the virus. The economy can't fully recover until people are confident it is safe to resume activities that involves crowds of people," Powell said on Wednesday.

He maintained the recovery will need more time before the Fed can remove the extra stimulus put in place at the onset of the health crisis.