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Mon Apr 12, 2021, 11:29 AM

Reopening economy too quickly could cause new coronavirus spike, Powell says

Source: Washington Post/Nation Thailand


Apr 12. 2021

Federal Reserve Chair Jerome Powell warned in an interview broadcast Sunday that reopening the economy too quickly could lead to another worrisome jump in coronavirus cases, saying that the United States has not completely turned the corner and that the pandemic continues to pose major risks to any recovery.

Powell, speaking in a "60 Minutes" interview, also said that the coronavirus pandemic had exacerbated economic disparities in the United States and that this could take time to address during an uneven recovery.In the interview, Powell described an economy that was at "an inflection point," showing signs of acceleration but still facing numerous risks. By many measures, the economy is rebounding strongly, with the hopes that increased vaccinations and recent stimulus packages charting a year of strong growth. The Dow Jones industrial average is at record levels, and more than 900,000 jobs were added last month.

In the interview, Powell described an economy that was at "an inflection point," showing signs of acceleration but still facing numerous risks. By many measures, the economy is rebounding strongly, with the hopes that increased vaccinations and recent stimulus packages charting a year of strong growth. The Dow Jones industrial average is at record levels, and more than 900,000 jobs were added last month.Yet at the same time, coronavirus cases are rising. And with at least 8.5 million Americans still out of the workforce, the scars of long-term unemployment, especially for workers of color and women, compound by the day.

Read more: https://www.nationthailand.com/business/30404786



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Reply Reopening economy too quickly could cause new coronavirus spike, Powell says (Original post)
DonViejo Apr 12 OP
IronLionZion Apr 12 #1
bullwinkle428 Apr 12 #2
IronLionZion Apr 12 #6
Initech Apr 12 #3
TomCADem Apr 12 #4
bucolic_frolic Apr 12 #5

Response to DonViejo (Original post)

Mon Apr 12, 2021, 12:37 PM

1. Republicans are all about that coronavirus spike

and spreading new variants around. We're all fed up with quarantines and masks but it's insane to have people who are pro-virus.

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Response to DonViejo (Original post)

Mon Apr 12, 2021, 01:06 PM

2. But, but, but...noted epidemiologist Joe Scarborough was insisting that

if we don't re-open everything right away, we'll have a mental health crisis that will dwarf the pandemic.

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Response to bullwinkle428 (Reply #2)

Mon Apr 12, 2021, 03:55 PM

6. It's true that more people sought and got treatment for mental health

but suicides didn't increase during the pandemic like conservatives kept claiming.

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Response to DonViejo (Original post)

Mon Apr 12, 2021, 02:18 PM

3. Everything is going to cause a spike.

The spike is inevitable at this point. Eventually people are going to get sick of the restrictions. We've literally been here before - 100 years ago, to be exact.

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Response to DonViejo (Original post)

Mon Apr 12, 2021, 02:52 PM

4. It Won't Be Until June That About 70 Percent...

... of people are fully vaccinated, which is the threshold for herd immunity. Yet, folks are out and about as though the pandemic is over.

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Response to DonViejo (Original post)

Mon Apr 12, 2021, 03:38 PM

5. Powell is a Trump appointee, he knows everything about everything

and delights in ignorant exhibitionism

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