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Fed's Powell: Not certain Delta outbreak will dent recovery

EconomyAug 17, 2021 02:40PM ET
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© Reuters. FILE PHOTO: Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh/Pool via REUTERS

WASHINGTON (Reuters) - It remains unclear whether the heightened outbreak of the coronavirus Delta variant will have a noticeable impact on the economy, U.S. Federal Reserve Chair Jerome Powell said Tuesday.

"COVID is still with us ... and that is likely to continue to be the case for a while," Powell said, but "people and businesses have improvised and learned to adapt. To live their lives despite COVID."

Powell spoke to a Web broadcast event with teachers and students, and much of the event involved basic information about the U.S. central bank and the importance of economics education.

But his brief comment on the recovery indicates that the increase in infections and lagging pace of vaccination hasn't undermined the Fed's view that the recovery will remain on track.

The pandemic is “still casting a shadow on economic activity. We cannot declare victory yet,” Powell said. But "many companies ... have adapted their business models to the new world," and are able to carry on.

Fed's Powell: Not certain Delta outbreak will dent recovery
 

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Comments (5)
Franco Dominguez
Franco Dominguez Aug 17, 2021 2:57PM ET
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not certain of anything, the onflation is struggling the consuption as.......
ben sc
ben sc Aug 17, 2021 2:57PM ET
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SSI recipients getting 6.2% increase, what's real inflation?
Olga Haldemann
Olga Haldemann Aug 17, 2021 2:51PM ET
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But we can't even complain that he doged the question:)And yet, USD holds. And why is that? Who is in charge on the safe heawen? :) Who is next?
Franco Dominguez
Franco Dominguez Aug 17, 2021 2:37PM ET
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he is an ....... get to work and maintain inflation at 2% unless you are in university speechless
Matt Novakovich
Matt Novakovich Aug 17, 2021 2:15PM ET
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not sure of anything, except the bubble popping
Felipe Daniel
Felipe Daniel Aug 17, 2021 2:14PM ET
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Lets print more now Biden has dementia
 
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