Jay Powell said the US economy is at an “inflection point” with growth and hiring set to accelerate, but he warned that new surges of Covid-19 could impede the recovery.
Speaking on CBS’s 60 Minutes programme, the chair of the Federal Reserve delivered an upbeat message about the economic outlook and underscored the critical importance of the ongoing vaccinations campaign and the massive stimulus measures enacted to date to maintain its momentum.
“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,” he said in the interview, which was conducted on Wednesday and aired on Sunday.
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