According to Federal Reserve Chairman Jerome Powell, the United States Economy is at an "inflection point" in recovery. Economic prospects are improving, and at the same time, Powell insists that the Federal Reserve will double its efforts to support the labor market.
Economic recovery looks to be picking up rapidly as millions of Americans head back to work. According to Jerome Powell, speaking during an interview with 60 Minutes, current vaccination efforts and fiscal supports are providing the proper support to drive recovery even further.
"What we're seeing now is really an economy that seems to be at an inflection point. And that's because of widespread vaccination and strong fiscal support, strong monetary policy support. We feel like we're at a place where the economy's about to start growing much more quickly and job creation coming in much more quickly," Powell said.
According to Powell's remarks during the interview, it would appear that the Federal Reserve intends to remain an active participant in economic recovery, with the current focus seeming to be putting Americans back to work. Recovery, though, isn't "across-the-board," as some may hope. Powell admitted that some areas of the country are recovering far faster than others, with restaurants and other businesses that rely heavily on interaction with the public suffering the most from a stall...