Powell: "Turning Point for US Economic Growth and Employment Expansion"

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), stated that the U.S. economy is at a turning point of stronger growth and employment expansion, but risks of a resurgence of the novel coronavirus infection (COVID-19) remain.

In an interview with CBS's "60 Minutes," scheduled to air on the 11th (local time), Powell said, "We feel like the economy is starting to grow much faster and job creation is coming much faster," according to U.S. media reports.

Powell emphasized, "What we are seeing now is an economy that actually appears to be at a turning point," adding, "That is thanks to widespread vaccination, strong fiscal support, and strong monetary policy support."

However, Powell pointed out that the possibility of a resurgence of COVID-19 remains the greatest threat to the economy.

Powell's interview will be released at 7 p.m. local time (8 a.m. Korean time) on the same day.

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