Federal Reserve Chairman Jerome Powell said in a new interview that the US economy is turning corners, for a turbo-charged campaign to vaccinate Americans against COVID-19.
Powell told Scott Pelley during an interview to ’60 Minutes’ of CBS News, “What we’re seeing now is really an economy that seems to be at a inflection point.”
“We think we’re in a place where the economy is growing very fast and job creation is happening very fast,” Powell said. “So right now the major risk to our economy is that the disease will spread again. If people can keep a distance socially and wear masks then it would be very smart.”
Powell’s comments are at record levels of US stock indices due to optimism about reopening the economy, and the nation’s benign effort to vaccinate Americans, allowing all adults in almost every state over the age of 16. Let’s create a character for COVID. to vaccinate.
According to the Centers for Disease Control and Prevention, approximately 183 million doses of the vaccine have been administered in the US so far. According to CDC data, nearly half of the country’s adult population and about 80 percent of those 65 and older have received at least one dose.
Powell, who was appointed by former President Donald Trump, has been a key figure in economic change. Under Powell, the Federal Reserve cut its benchmark rate to near zero last March and deployed large-scale emergency lending programs.
Powell has said the Fed is unlikely to raise rates until the economy fully recovers, even if inflation exceeds its 2 percent target.
Powell has supported the government’s aggressive spending programs under both Trump and President Biden to tackle the public health crisis.