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The U.S. economy is doing better but is “not out of the woods yet,” Federal Reserve Chair Jerome Powell said on Monday in remarks that flagged an upcoming central bank study documenting the disproportionate blow suffered by the less educated and working parents during the coronavirus downturn.

"The economy is reopening, bringing stronger economic activity and job creation," Powell said in remarks prepared for delivery at a conference of the National Community Reinvestment Coalition. "That is the high-level perspective - let’s call it the 30,000-foot view - and from that vantage point, we see improvement. But we should also take a look at what is happening at street level."

There, Powell said, the Fed's annual Survey of Household Economic Decisionmaking (SHED), to be released later this month, put some firmer estimates around the disparate impacts of the pandemic, an issue he and other policymakers have focused on and pledged to build into their analysis of how the economic recovery is proceeding and when it might be complete.