WASHINGTON, DC - DECEMBER 01: Chairman of the Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing about the quarterly CARES Act report on Capitol Hill December 1, 2020 in Washington, DC. Treasury Secretary Steven Mnuchin also testified at the hearing. (Photo by Susan Walsh-Pool/Getty Images)
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Fed chief: The economy is about to grow more quickly
In a "60 Minutes" interview on CBS, Federal Reserve Chair Jerome Powell said the US economy is at an "inflection point," but says the "principal risk" is that Covid-19 will spread again. CNN's Christine Romans reports.
02:06 - Source: CNNBusiness
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WASHINGTON, DC - DECEMBER 01: Chairman of the Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing about the quarterly CARES Act report on Capitol Hill December 1, 2020 in Washington, DC. Treasury Secretary Steven Mnuchin also testified at the hearing. (Photo by Susan Walsh-Pool/Getty Images)
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Fed chief: The economy is about to grow more quickly
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A person prepares to pump gas at a BP gas station on Coney Island Avenue on October 19, 2022 in the Flatbush neighborhood of Brooklyn borough in New York City. President Joe Biden announced the sale of an additional 15 million barrels from the Strategic Petroleum Reserve. The announcement was made three weeks before the Midterm Elections and the move is expected to meet the administrations goal of releasing 180 million barrels from the Strategic Petroleum Reserve to counter the rising gas prices due to Russia's invasion of Ukraine.
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Customers browse racks of clothing as they shop inside a discount department retail store in Las Vegas, Nevada, on May 7, 2022. - The US economy added a better-than-expected 428,000 jobs in April, with the unemployment rate remaining at a low 3.6 percent, the Labor Department reported. The data pointed to continued strong employment growth and contained hints that some inflationary pressures may be easing, with workers' wages rising less than in March. But investors remain anxious that rising prices and higher interest rates will hit consumers, slowing the economy's expansion in the second half of 2022. (Photo by Patrick T. FALLON / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
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