Powell made the comments during an interview that will be broadcast on Sunday on CBS News “60 Minutes”. One preview of the interview launched early Sunday, Powell offered a more rosy economic outlook, unlike previous remarks on the economic recovery.
“What we see now is really an economy that seems to be at a turning point,” Powell said for “60 minutes” during the interview. “And that’s because of large-scale vaccination and strong fiscal support, strong monetary policy support. We feel that we are in a place where the economy is about to start growing much faster and creating more jobs. quick.”
But only if there is no other wave of Covid-19.
“The main risk to our economy right now is that the disease will spread again. It will be smart if people can continue to distance themselves socially and wear masks, “he said for” 60 minutes. ”
More than 183 million vaccines have been administered in the United States, according to CDC data.
This comes after a few minutes released by the central bank last week stressed that some time will pass “until substantial progress is made” in terms of employment and inflation. The Fed cut interest rates to zero in March 2020 and said it expects to keep interest rates historically low until 2023.
Last month, Powell said any rise in inflation in the summer months will be temporary and will not affect his monetary policy at this time.