Jerome Powell, İnflection Point, Scott Pelley, Federal Reserve, President Biden

Jerome Powell, İnflection Point

Fed Chair Jerome Powell says U.S. economy is at an 'inflection point'

'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.'

4/12/2021 8:22:00 PM

'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.'

Federal Reserve Chair Jerome Powell told CBS' '60 Minutes' in an interview broadcast Sunday that the U.S. economy is at an ' inflection point ,' with growth and job creation forecasts looking strong.Of note: In his interview with CBS' Scott Pelley , Powell said it's 'highly unlikely' the Fed would raise interest rates this year.Get market news worthy of your time with Axios Markets. Subscribe for free.“I hate to even think. It would've been so much worse,” says Federal Reserve Chairman Jerome Powell about what would have happened to the economy if the COVID Relief Bill had never passed. “Congress, in effect, replaced people's income... It was heroic.”— 60 Minutes (@60Minutes) April 11, 2021 Driving the news: 'What we're seeing now is really an economy that seems to be much at an inflection point , and that's because of widespread vaccination and strong fiscal support, strong monetary policy support,' Powell said in the interview.'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.'Yes, but: Powell's forecast is based on there not being another wave of COVID-19.'I would identify the principal risk to our economy right now really is that the disease would spread again more quickly,' Powell said.'We do see cases. They're at a much lower level. But we see them moving up now. And that's troubling. It's going to be smart if people can continue to socially distance and wear masks.'Threat level: Powell told Pelley the risk that the Fed was watching out for the most now was the threat of a cyber breach. Officials were bracing for a range of scenarios — from payment utility breakdowns concerning individuals and large financial institutions to the financial system being brought to a halt. 'There are cyber attacks every day on all major institutions now,' Powell noted.'And the government is working hard on that. So are all the private sector compan

The Daily BeastPrince Harry and Prince William’s Feud Rumbles on as They Issue Dueling Statements on Philip’s DeathTwitter / Kensington RoyalIf this is a truce, it doesn’t much look like one.Prince Harry and Prince William released dueling statements Monday afternoon following the death of their grandfather last week, with Harry making a statement just 32 minutes after his brother released his.If you love The Daily Beast’s royal coverage, then we hope you’ll enjoy The Royalist, a members-only series for Beast Inside. Become a member to get it in your inbox on Sunday.That the brothers were unable or unwilling to co-ordinate a joint statement does not bode well for hopes of fraternal reconciliation in the coming days.Harry and Meghan were criticized in some quarters for unilaterally posting a brief message of condolence on their website last week, before other more senior members of the family had spoken.While William’s statement today was intensely personal, focused on his own memories of his grandfather, Harry sought to identify directly with the general public, referencing the coronavirus pandemic and drawing a parallel between his bereavement and that of “many of you who have lost a loved one or grandparent over the pain of this past year.”Prince William’s statement, which was accompanied on Twitter by an adorable photograph of Prince George on a horse-drawn carriage with Philip, appeared to refer to the guidance and support his grandfather offered him after the death of his mother, Diana, in a 1997 car accident, saying: “I feel lucky to have not just had his example to guide me, but his enduring presence well into my own adult life—both through good times and the hardest days.”Prince Philip Thought Meghan Markle and Prince Harry’s Oprah Interview Was ‘Madness’William said Philip’s “century of life was defined by service—to his country and Commonwealth, to his wife and Queen, and to our family.”William paid testament to Philip’s “infectious sense of adventure as well as his mischievous sense of humour” and said he was grateful Kate “had so many years to get to know my grandfather and for the kindness he showed her,” adding, “I will never take for granted the special memories my children will always have of their great-grandpa coming to collect them in his carriage.”William’s statement concluded: “My grandfather was an extraordinary man and part of an extraordinary generation. Catherine and I will continue to do what he would have wanted and will support The Queen in the years ahead. I will miss my Grandpa, but I know he would want us to get on with the job.”Harry described his grandfather “as a man of service, honour and great humour.”In language that seemed more Californian than British, Harry described his grandfather as “authentically himself.”He also seemed to refer to the duke’s tendency to make outrageous remarks, saying, “You never knew what he might say next.”Harry’s statement went on to say that while he would be remembered for his many official roles, “for me, like many of you who have lost a loved one or grandparent over the pain of this past year, he was my grandpa: master of the barbecue, legend of banter, and cheeky right ‘til the end.“He has been a rock for Her Majesty The Queen with unparalleled devotion, by her side for 73 years of marriage, and while I could go on, I know that right now he would say to all of us, beer in hand, ‘Oh do get on with it!’“So, on that note, Grandpa, thank you for your service, your dedication to Granny, and for always being yourself. You will be sorely missed, but always remembered—by the nation and the world. Meghan, Archie, and I (as well as your future great-granddaughter) will always hold a special place for you in our hearts.”Harry signed off his note with the phrase “Per Mare, Per Terram,” the Latin motto of the British Royal Marines.Harry succeeded his grandfather as captain general of the Royal Marines in 2017. Philip had previously done the job for 64 years. Harry was forced to resign after 30 months as part of the terms of his departure from royal life.Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.

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3h agoBrits flock to pubs for first time in months as U.K. lockdown easesPeople in England are enjoying some semblance of normalcy — and pouring their first pints in public — after COVID-19 restrictions eased at midnight Monday, allowing non-essential locations like salons, gyms and pubs to reopen for the first time since January.Why it matters: Britain's partial reopening has come amid one of the world's most successful vaccination campaigns, sharply curbing a COVID-19 outbreak that has killed more people than in any other country in Europe.Get market news worthy of your time with Axios Markets. Subscribe for free.40 million doses have been administered in the U.K., with over 48% of people receiving at least their first dose, according to Bloomberg's vaccine tracker.The next phase in England's reopening roadmap will see the return of indoor entertainment and possibly international travel on May 17, assuming certain criteria are met. The government is aiming to lift all restrictions on social contact on June 21.In photos Shoppers carry bags in central London Monday. Photo: Hollie Adams/Bloomberg via Getty Images A customer drinks in an outdoor seating area in Warwick, U.K., on Monday. Photo: Darren Staples/Bloomberg via Getty ImagesA solid start to the new reality of outdoor dining in Cranleigh this morning.— Martin Bamford (@martinbamford) April 12, 2021 Terry Morris, mayor of Warwick, right, and Mandy Littlejohn, cheers with their drinks in an outdoor seating area set up in the car park of The Old Fourpenny Shop Hotel in Warwick, U.K., on Monday Photo: Darren Staples/Bloomberg via Getty Images A shopper on Oxford Street in London. Photographer: Hollie Adams/Bloomberg via Getty Images Customers at the reopening of the Figure of Eight pub, in Birmingham, U.K. Photo: Jacob King/PA Images via Getty Images Customers enjoy a drink at an outside table after the Half Moon pub re-opened in east London Photo: Niklas Hallen'n/AFP via Getty Images John Witts enjoys a drink at the reopening of the Figure of Eight pub, in Birmingham. Photo: Jacob King/PA Images via Getty ImagesLike this article? Get more from Axios and subscribe to Axios Markets for free.

5h agoBusiness Insider"The helmet's definitely the worst part because if you're leaning forward or backward, it'll take your whole body with you," she said. Read more: Yahoo News »

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I have been seeing consistently mixed job 's meaning its hard to tell if we're adding or losing NET. Additionally, it's important to know WHAT TYPES OF JOBS are being added & how much are they paying. P/T min wage jobs are not CAREERS are CAREER jobs paying well being added? Yeah right!