Federal Reserve Chairman Jerome Powell says cryptocurrencies are speculation vehicles like gold
Federal Reserve Chairman Jerome Powell says employment, economic output are about to start growing ‘much more quickly’
Federal Reserve Chairman Jerome Powell said that the economy is going to start growing strongly in the second half of the year, but emphasized that that rebound shouldn’t lead anyone to believe that the central bank would dial up interest rates in 2021.
The U.S. economy is set to make a turnaround, with increased growth that should provide more jobs, says Jerome Powell, the chairman of the Federal Reserve. Powell spoke with Scott Pelley Wednesday for a report airing tonight, on 60 Minutes.
“I hate to even think. It would've been so much worse,” says Federal Reserve Chairman Jerome Powell about what would have happened to the economy if the COVID Relief Bill had never passed. “Congress, in effect, replaced people's income... It was heroic.”
Jerome Powell, Chairman of the Federal Reserve, says the trillions of dollars in additional federal debt to support the U.S. economy during coronavirus could be paid down over decades.
“Is there any limit to the amount of money the Fed is willing to put into this economy to keep it afloat? Is it a blank check?” @SavannahGuthrie "... Essentially, the answer to your question is no," Federal Reserve Chairman Jerome Powell explains.
Who in the workforce is getting hurt most by the sharp economic downturn caused by coronavirus? “The most recently hired, the lowest paid people. It's women to an extraordinary extent,” says Federal Reserve Chairman Jerome Powell.
"Do you think we are already in recession?" @SavannahGuthrie "We may well be in a recession. Again, I would point to the difference between this and a normal recession. There's nothing fundamentally wrong with our economy." -Federal Reserve Chairman Jerome Powell