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CBS News The complete text of Scott Pelley s interview with the Federal Reserve chairman. 2021 Apr 11 SCOTT PELLEY: Is the economy still in jeopardy? JEROME POWELL: Well, I would say this. So the economy slowed quite a bit over the winter due to the spike in COVID cases. But 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. So that s really where we are. Really though, your question goes to the risks. And there are still certainly risks, as there always are. ....
Soon, President Biden is expected to sign a third COVID recession relief plan just days before emergency unemployment benefits expire. For many the need is great, in part, because this recession is the most unequal in modern history. This past Friday, new jobs numbers confirmed that middle and high-income workers are returning but the jobs of low-income Americans have been annihilated. Relief checks have been a lifeline, but temporary. Many, like the Americans you re about to meet, were already struggling in poverty when COVID pushed them over the edge. As they fall, the pandemic is cutting away at the safety net. For 23-year-old Courtney Yoder, the cruel recession hit just as she was saving enough from her job to move out of a tent, anticipating the birth of her first child. ....
60 Minutes: Reactions to Columbus, Ohio, homelessness and hunger dispatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dispatch.com Daily Mail and Mail on Sunday newspapers.