Chairman Jerome Powell says the US economy is about to start growing"much more quickly," but a resurgence in COVID-19 cases could derail that progress.in an interview set to be aired on 60 MinutesIn a preview of the interview, Powell said the US economy is at an"inflection point" more than a year after the virus forced widespread lockdowns, tangling supply chains, shuttering businesses, and leaving millions of Americans unemployed.
"We feel like we're at a place where the economy's about to start growing much more quickly and job creation coming in much more quickly. The principal risk to our economy right now really is that the disease would spread again. It's going to be smart if people can continue to socially distance and wear masks," Powell told CBS., well-exceeding economists' expectations. The unemployment rate fell to 6% from 6.2%, matching forecasts, still far above the 3.
"The real concern is that longer-term unemployment can allow people's skills to atrophy, their connections to the labor market to dwindle, and they have a hard time getting back to work," he said in the conference."It's important to remember we are not going back to the same economy, this will be a different economy," Powell said in a Powell and experts have also cautioned that another wave of the coronavirus could unwind economic progress.
Even as vaccinations continue to roll out in the US at a steady pace, confirmed cases of COVID-19 in the US have again been on the rise. The director of the Centers for Disease Control and Prevention last month
have we tried opening up schools with three foot distancing, maybe that'll stave it off
I don’t get it....if everyone is forced to wear masks, stand 6 feet apart, yada yada, and we have vaccines , what the F is the problem now ?!?
hblodget No it’s not !! It’s another wave of government forced shut downs, eviction moratoriums, and whatever dim witted ,BS executive orders they come up with!! Get it straight !
The greatest risk to America and rest of the world is Jerome himself. The wealth inequality that this single man has created across the globe is mind blowing.
Amazing foresight. He’s definitely earning his salary.
Further DISTRACTION from much MORE DEVASTATING ISSUES!!
horrible