Federal Reserve Chairman Jerome Powell said the economy is at an “inflection point” and could experience rapid growth upwards of 6 percent or 7 percent this year in an interview on CBS’ 60 Minutes.
Powell talks economy, digital currencies
April 13, 2021 / By ICBA
Federal Reserve Chairman Jerome Powell said the economy is at an “inflection point” and could experience rapid growth upwards of 6 percent or 7 percent this year in an interview on CBS’ 60 Minutes.
Federal Reserve Chairman Jerome Powell said the economy is at an “inflection point” and could experience rapid growth upwards of 6 percent or 7 percent this year in an interview on CBS’ 60 Minutes.
Powell also said that a rate increase this year is “highly unlikely” and noted the Fed’s involvement in a research and development project to study digital dollars to gain an “understanding [of] the technology and the possibilities so that you can really address the policy issues.”
More: Powell also said that the central bank is investigating whether losses borne by large banks related to the meltdown of over-leveraged investment fund Archegos Capital were the result of a risk management failure.
Related: ICBA’s recent blog post offers a primer on central bank digital currencies, as part of a new series on digital dollars. The blog also distinguishes CBDC from other types of digital assets, including stablecoins and other cryptocurrencies.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
