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Jerome Powell: Full 2021 60 Minutes interview transcript

CBS News The complete text of Scott Pelley s interview with the Federal Reserve chairman. 2021 Apr 11 SCOTT PELLEY: Is the economy still in jeopardy? JEROME POWELL: Well, I would say this. So the economy slowed quite a bit over the winter due to the spike in COVID cases. But what we re seeing now is really an economy that seems to be at an inflection point. And that s because of widespread vaccination and strong fiscal support, strong monetary policy support. We feel like we re at a place where the economy s about to start growing much more quickly and job creation coming in much more quickly. So that s really where we are. Really though, your question goes to the risks. And there are still certainly risks, as there always are.

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Federal Reserve Chairman Says Cyber-Risk a Top

Federal Reserve Chairman Says Cyber-Risk a Top Threat to National Economy Jerome Powell tells 60 Minutes that cyberattacks have the potential to do major damage to US financial system. Cyberattacks on major financial institutions pose one of the biggest threats to the US economy, with the potential to cripple the system, according to Federal Reserve Chairman Jerome Powell. Powell, who spoke to 60 Minutes correspondent Scott Pelley in an interview that aired April 12, said the risk of a financial collapse and recession like the kind the country experienced in 2008 is unlikely, but new risks now put the financial system in danger. “I would say that the risk that we keep our eyes on the most now is cyber-risk,” Powell said. “That s really where the risk I would say is now, rather than something that looked like the global financial crisis.”

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Jerome Powell says cyberattacks are the number-one threat to the global financial system

Cyberattacks are now the foremost risk to the global financial system, even more so than the lending and liquidity risks that led to the 2008 financial crisis, according to Federal Reserve Chairman Jerome Powell.

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Cyberattacks are the number-one threat to the global financial system, Fed chair says

Cyberattacks are the number-one threat to the global financial system, Fed chair says
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Cyberattacks are biggest threat to financial system, warns Fed Reserve chair

by CNN April 12, 2021 . Cyberattacks are now the foremost risk to the global financial system, even more so than the lending and liquidity risks that led to the 2008 financial crisis, according to Federal Reserve Chairman Jerome Powell. The assessment by one of the world’s leading banking officials underscores how the threat of hacking has become a top concern in the highest reaches of government. In an interview that aired on CBS’s “60 Minutes” on Sunday, Powell said the world has changed substantially since the days of the Great Recession. “I would say that the risk that we keep our eyes on the most now is cyber risk,” Powell told CBS. “So you would worry about a cyber event. That’s something that many, many government agencies, including the Fed and all large private businesses and all large private financial companies in particular, monitor very carefully, invest heavily in. And that’s really where the risk I would say is now, rather than something that lo

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