Powell made the comments during an interview that airs Sunday on CBS News’s “60 Minutes”. In one interview preview
Released early Sunday, Powell provided a more optimistic economic outlook, in contrast to past remarks about the economic recovery.
“What we’re seeing now is really an economy that appears to be fine at an inflection point,” Powell said at “60 minutes” during the interview. “And that’s because of the widespread immunization and strong fiscal support, strong monetary policy support. We feel like we are in a place where the economy is about to start growing much faster. and job creation is happening much faster. “
But that’s only if there isn’t another wave of Covid-19.
“The main risk to our economy right now is really for the disease to spread again. It will be smart if people can continue to distance themselves socially and wear masks,” he told “60 Minutes.” .
More than 183 million vaccines have been administered in the United States, according to CDC data.
It comes after minutes released by the central bank last week pointed out that it would be some time “before further substantial progress” is made on jobs and inflation. The Fed cut interest rates to zero in March 2020 and said it plans to keep interest rates at historically low levels until 2023.
Last month, Powell said any increase in inflation over the summer months would be temporary and not of concern to his monetary policy at this time.