Fed's Powell: U.S. economy at an 'inflection point' – CBS '60 Minutes'

FILE PHOTO: Chair of the Federal Reserve Jerome Powell listens during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh/Pool via REUTERS/File Photo

(Reuters) – The U.S. economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but some risks remain, particularly any resurgence in the coronavirus pandemic, Federal Reserve Chair Jerome Powell said.

“We feel like we’re at a place where the economy is about to start growing much more quickly and job creation coming in much more quickly, so the principle risk to our economy right now really is that the disease would spread again,” Powell said in a brief clip of an interview with CBS’ news magazine program “60 Minutes” set to air in full on Sunday night. “It’s going to be smart if people can continue to socially distance and wear masks.”

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