$SPY FED'S POWELL SAYS U.S. ECONOMY HAS ENTERED IMPORTANT NEW PHASE, SOONER THAN EXPECTED, ACCORDING TO PREPARED TESTIMONY SAYS RECENT ECONOMIC DATA OFFER SOME POSITIVE SIGNS, BUT OUTPUT, EMPLOYMENT FAR BELOW PRE-PANDEMIC LEVELS SAYS ECONOMIC OUTLOOK EXTRAORDINARILY UNCERTAIN, DEPENDS IN LARGE PART ON CONTAINING VIRUS SAYS TALF HAS EXTENDED $252 MLN LOANS SO FAR || SAYS MAIN STREET LENDING MAY PROVE VALUABLE 'IN THE MONTHS AHEAD' FOR FIRMS HIT BY PANDEMIC
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