The Federal Reserve President offered a glowing estimate of the U.S. economy – only for House Speaker Nancy Pelosi to immediately throw cold water in the assessment.
“What we’re seeing right now is an economy that appears to be in a volatile phase,” said President Jerome Powell in a “60 Minutes” interview with CBS News’s “Face the Nation” on Sunday.
“And that’s because of extensive vaccination and strong financial support, a strong monetary policy support. We felt like we were at a point where the economy was about to grow rapidly and job creation would come much faster, ”Powell continues in an example.
He cautioned that the biggest risk to the economy is if people with COVID-19 return to the epidemic, if people stop wearing masks and keep a safe social distance.
Pelosi was later asked why President Biden would push for more money spending if the economy was in good shape, as Powell suggested.
She insisted that Powell’s assessment was not as rosy as she thought.
“Indeed, if you pay attention to what he has to say, we are where we are going to see it. We will start to see And then he was careful to prevent the spread of the virus, ”Pelosi said later in“ Face the Nation. ”
“If we are to grow our economy with confidence, we have to get rid of the virus. They are definitely related, ”said the California Democrats.
“So ‘starting to see’ the recovery in our economy is quite different from what Mitch McConnell said: the economy is recovering very quickly. You don’t have to start watching “
Pelosi argued that seeing Americans gather in crowds without masks is not a “positive sign” that the country can “destroy the virus”.
McConnell (R-Ky.) Said President Biden’s nearly $ 2 trillion infrastructure package would not be funded by the Republican Senate, claiming it was a “Trojan horse” for his democratic and pro-democracy initiatives. progress
He also opposed Biden’s offer to raise corporate tax rates to pay them.
And McConnell said the economy is already showing signs of life and doesn’t need federal support.
“The economy is coming back, people are getting vaccinated: we’re going to get out of this,” he said last month. And if we were to have the growth, it would have absolutely nothing to do with this $ 1.9 trillion. ”