Powell says economy poised for stronger growth

Fed Chair Jerome Powell

NEW YORK: Federal Reserve chair Jerome Powell says the US economy is at an “inflection point” with stronger growth and hiring ahead thanks to rising vaccinations and powerful policy support, but Covid-19 remains a threat.

“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, ” Powell told CBS’s “60 Minutes” in an interview conducted Wednesday, according to a transcript of the interview that aired Sunday.