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Jerome Powell: US economy reaches inflection point

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Jerome Powell: US economy reaches inflection point

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Fed’s Chair Jerome Powell supposes that the US economy is at an "inflection point". The Federal Reserve Chair expressed this opinion during the interview with CBS, answering questions about possible threats to the national economy.

Jerome Powell thinks that the current situation was caused by a rapid vaccination rollout and measures aimed at strong fiscal and monetary policy support. "We feel like we're at a place where the economy's about to start growing much more quickly," Mr. Powell said. First of all, positive changes will boost job creation.

However, a further spread of the coronavirus remains the principal risk to the national economy. That is why people should "continue to socially distance and wear masks".

Earlier, the US Fed planned to support the country’s economy by introducing a looser monetary policy. According to the monetary authorities, the US economy continues recovering, though at a gentle pace.

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