Powell’s presentation was broadcast on the Peterson Institute for World Economy website.
"The scale and pace of this recession have no precedent in modern history - much worse than any recession since the Second World War," said the head of the US Federal Reserve.
According to him, in the USA there is a sharp decline in economic activity and employment.
“The progress made over the past decade in creating new jobs has already come to naught,” Powell said.
It was previously reported that in April the US unemployment rate has more than tripled and for the first time since World War II reached 14.7%.
According to the US Federal Reserve, the most damage is done to companies that work in the field of entertainment, tourism and retail.