In a conversation with Scott Pelley about the economic outlook, Powell also commented on the fallout from the Archegos Capital collapse, last year's bailout of money market funds, and the potential development of a U.S. digital dollar.
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Federal Reserve Chair Jerome Powell says the economy would have been "so much worse" if the COVID-19 relief bills were never passed by Congress.In an interview with "60 Minutes" that aired on Sunday, CBS's Scott Pelley asked Powell what he thinks would have happened to the economy if the rescue packages were never passed."You know, I hate to even think. It would've been so much worse," Powell told Pelley."Congress, in effect, replaced people's.