Overseas Network, April 12th – On April 11th, local time, CBS broadcast the latest “60 Minites” interview program, in which Federal Reserve Chairman Powell warned that if the United States is too urgent to reopen the economy, it will lead to COVID-19. The number of confirmed inflammatory people surged again.
According to the Washington Post, Powell told host Scott Pelley that the epidemic in the United States is still controlling the fate of economic recovery. Powell believes that if the United States is too eager to reopen the economy, it will lead to a surge in the number of confirmed coronavirus. Powell stressed: “The United States has not been able to turn the situation around. The epidemic puts any recovery measures in American society at great risk.”
Powell mentioned in an interview that the coronavirus epidemic has exacerbated the gap between rich and poor in the United States. At least 8.5 million Americans can’t find jobs, and the social scars of long-term unemployment are more prominent and deepening among people of color and women. Powell described that the U.S. economy is currently facing an “inflection point”. Data shows signs of an accelerated recovery. The American people expect increased vaccinations and recent stimulus plans to bring economic growth, but Powell believes that the United States still faces many risks.
“If the economy reopens too quickly, people will repeat the same, and we’ll see another spike in new cases, and the situation of a deep recession could be even worse,” Powell said. Powell also mentioned that another challenge with the economic recovery is whether many industries that disappeared in 2020 can return to the past.” The economic state we are going to return to will be different from before, which makes it more difficult for the American people to regain their foothold in the labor market.
The Washington Post mentioned that the U.S. government has launched trillions of dollars of economic stimulus plan, but many battered families have not received the support. Powell refused to answer whether he would push another round of stimulus plan, and kept silent about whether the White House’s proposal to increase corporate and personal taxes would hinder economic growth.
Powell said: “We need to remember that about 10 million Americans have lost their jobs due to the epidemic and are still unable to find employment. For these people, the plight is far from over.