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 said.
“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.
Read: After deluge of bad news, now a waiting gam to see if the economy perks back up
Powell did not discuss the jobs report in the interview, but he said spending “popped back up in January.”
It has been relatively rare for Fed officials to appear on the national stage. But appearing on “60 Minutes” is now something of a rite of passage for Fed chairmen.
Former Fed Chairman Ben Bernanke took great pride in his appearance on “60 Minutes” in 2009, noting in his autobiography that two days after his interview aired, the Dow Jones Industrial Average DJIA, -0.09% hit rock bottom, closing at 6,547, and then came climbing back.
