04/11/2021

Fed's Powell: U.S. Economy at an 'Inflection Point'

The remarks were made during an interview with CBS' 60 Minutes

The U.S. economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but some risks remain, particularly any resurgence in the coronavirus pandemic, Federal Reserve Chair Jerome Powell said.

In a brief preview of a longer interview with CBS' news magazine program 60 Minutes set to air in full on Sunday night, Powell echoed both his recent optimism about the economy and a now-familiar warning that COVID-19 remains the main risk.

"We feel like we're at a place where the economy is about to start growing much more quickly and job creation coming in much more quickly, so the principal risk to our economy right now really is that the disease would spread again," Powell said. "It's going to be smart if people can continue to socially distance and wear masks."

Please select this link to read the complete article from Reuters.