Powell downplays recession fears in ‘60 Minutes’ interview

CBS News
Fed Chairman Jerome Powell talks with Scott Pelley of the CBS News program “60 Minutes” on Sunday.

Federal Reserve Chairman Jerome Powell turned into a cheerleader for the economy in an interview with “60 Minutes” on Sunday.

“We’ve seen a bit of slowing, but still to heathy levels, in the U.S. economy this year,” Powell told the CBS News program.

“I would say there’s no reason why this economy cannot continue to expand,” he added.

A weak retail sales report for December and a meager gain in jobs reported Friday have raised concerns that the slowdown may be more severe than the central bank now expects.

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