Positive economic data such as the better than expected job data and retail sales data had fueled hopes that the US economy could bounce back more quickly than expected. But according to Vice-Chair of the Federal Reserve Randal Quarles, “There has probably never been more uncertainty about economic outlook”. Powell warns that millions of people will likely still be unemployed even as the economy is on the path of recovery. Moving forward the Fed will perform stress tests on banks in order to determine the capital requirements that their banks must keep.