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Fed's Powell sees US boom ahead, with COVID still a risk

Usa Washington county Jerome city Powell, county Jerome economy Government Coronavirus
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WASHINGTON – The U.S. economy is poised for an extended period of strong growth and hiring, the chair of the Federal Reserve said in an interview broadcast Sunday, though the coronavirus still poses some risk.

Chair Jerome Powell, speaking to CBS' “60 Minutes," also said that he doesn't expect to raise the Fed's benchmark interest rate, currently pegged at nearly zero, this year.

He also downplayed the risk of higher inflation stemming from sharp increases in government spending and expanding budget deficits. “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,” Powell said. “This growth that we’re expecting in the second half of this year is going to be

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covid-19
COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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