Powell Sees Economy at Inflection Point
By Paul Kiernan
Federal Reserve Chairman Jerome Powell said the U.S. economy
appears to be at an inflection point, with output and job growth
poised to accelerate in the months ahead as long as the Covid-19
"We feel like we're at a place where the economy's about to
start growing much more quickly and job creation coming much more
quickly," Mr. Powell said in an excerpt of an interview set to air
in full Sunday evening on CBS's "60 Minutes."
Saying a resurgence of Covid-19 remains the primary risk to the
economic outlook, the central-bank chief urged Americans to
continue socially distancing and wearing masks.
President Biden and administration officials have also urged
Americans to be patient and take precautions as the rollout of
Covid-19 vaccines continues and new variants spread.
Fed officials and private forecasters say the U.S. economy is
positioned for its fastest year of growth since the early 1980s.
Economists surveyed by The Wall Street Journal in recent days said
they expect economic output to expand 6.4% in 2021 and
private-sector payrolls to rise by 7.06 million.
Write to Paul Kiernan at firstname.lastname@example.org
(END) Dow Jones Newswires
April 11, 2021 14:23 ET (18:23 GMT)
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