The head of America's central bank has pledged to continue support for the US economy for "as long as it takes". [Source: BBC]

The head of America’s central bank has pledged to continue support for the US economy for “as long as it takes”.

Warning that the US faces a “long road” to recovery, Federal Reserve Chair Jerome Powell said the bank would keep interest rates near zero for the foreseeable future.

A policymaker forecast released by the Fed showed rates remaining low until the end of 2022.

“This is going to take some time,” Mr Powell said.

In December, Fed policymakers said they expected the US economy to grow about 2% this year and the unemployment rate to remain around 3.5%.

But the pandemic has dramatically rewritten that outlook, prompting the loss of more than 20 million jobs in March and April in the US alone.