"We have entered an important new phase and have done so sooner than expected," Powell noted.

"While this bounceback in economic activity is welcome, it also presents new challenges—notably, the need to keep the virus in check."

While noting the push to lift restrictions on commercial activity, Powell critically expressed the need to contain the virus, noting that "a full recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities."

Chairwoman Waters, Ranking Member McHenry, and other members of the Committee, thank you for the opportunity to testify today to discuss the extraordinary challenges our nation is facing and the steps we are taking to address them.