The chairman of the Federal Reserve presented a glowing assessment of the US economy – only for House Chairman Nancy Pelosi to immediately pour cold water on the assessment.
“What we are seeing now is really an economy that is apparently on a turning point,” President Jerome Powell said in an excerpt from a ’60 minute ‘interview played on CBS News’ Face the Nation’ on Sunday is.
‘And this because of widespread vaccination and strong fiscal support, strong monetary policy support. We feel that we are in a place where the economy will start to grow much faster and job creation will come in much faster, ‘Powell continued in the piece.
He warned that the biggest risk to the economy is if COVID-19 cases start to increase again when people stop wearing masks and maintain safe social distances.
Pelosi was then asked why President Biden wants to spend more money when the economy is already good, as Powell suggested.
She insisted that Powell’s review was not as rosy as it sounded.
“If you listen carefully to what he said, we’re in a place where we’ll start seeing. We will start to see. And then he also warns against an increase in the virus, ‘Pelosi later said ‘Face the Nation.’
“If we are to grow the economy with confidence, we must crush the virus. “They are definitely related,” the California Democrat said.
‘So, start’ seeing ‘, the recovery in our economy is completely different from what Mitch McConnell said: the economy is picking up like a rocket. No. Start to see. ‘
Pelosi argued that it was not a ‘positive sign’ that the country could ‘crush the virus’ to see Americans gather in crowds without wearing masks.
McConnell, (R-Ky.), Said President Biden’s nearly $ 2 billion infrastructure package would not be supported by Senate Republicans, claiming it was a ‘Trojan horse’ for democratic and progressive initiatives. .
He also opposed Biden’s proposal to raise the tax rate on companies to pay for it.
And McConnell said the economy is already showing signs of life and that the federal government does not need to get a boost.
“The economy is coming back, people are being vaccinated: we are on our way out of this,” he said last month. ‘We’re about to have a boom. And if we do have a boom, it will have absolutely nothing to do with this $ 1.9 billion. ”