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Jim Cramer: Powell Press Conference Shows Continued Economic Impact of Covid

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The Federal Reserve stayed the course Wednesday, holding interest rates steady, though noting that tapering of the central banks buying $120 billion a month in government, corporate and agency bonds will be coming soon.

Fed chair Jerome Powell noted tapering could begin in November 2021, pending a "reasonably strong" September jobs report, according to reporting from TheStreet's Martin Baccardax.

In the video above, Jim Cramer explained what Powell's latest press conference says about the continued economic impact of the pandemic.

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