London Daily

Focus on the big picture.
Friday, Jul 04, 2025

Fed Chair Powell: Delta variant a wildcard for economy

Fed Chair Powell: Delta variant a wildcard for economy

Federal Reserve Chairman Jerome Powell said Tuesday that the economic impact of the delta variant remains unclear.
"While more people are getting vaccinated, the pace of vaccination has slowed," Powell explained. "A couple of months ago, we were ahead of many other similar countries in vaccination. Now we're falling behind, and one result you're seeing is the current outbreak of the delta strain that we're seeing in some parts of the country."

According to the Centers for Disease Control and Prevention, more than 315 million COVID-19 vaccine doses have been administered to date, with roughly 72% of U.S. adults receiving at least one dose and 61.8% fully vaccinated.

While acknowledging that people and businesses have been able to adapt during the pandemic, Powell warned COVID-19 is "still casting a shadow on economic activity."

"We can't declare victory yet on that," he added.

The comments came as Powell fielded questions from students and educators during a town hall covering basic information about the U.S. central bank and the importance of economics education.

Despite being forced to adapt to an upended world, Powell expressed hope that students would be able to turn the lessons learned from the pandemic into "profound tools of change."

"I hope this will cause you to think about how you want to make your mark, knowing that things do change and sometimes they change quickly," Powell said. "This is an extraordinary time and I believe that it will result in an extraordinary generation as long as we continue to have extraordinary educators to guide them. Their education is the foundation of our economy, indeed of our society."

On Wednesday, the Federal Reserve will release the minutes from its July meeting. Investors will be watching closely for guidance on when Fed officials plan to taper their support for the economy.
Comments

Oh ya 4 year ago
The biggest threat to the economy is the printing of trillions of dollars. Every dollar the Goverment gets the Fed to print devalues the dollars in your pocket, that id what inflation is. Too many dollars chasing to few products, a good example is houses sell for more than the asking price. If printing huge amounts of cash worked then Venezuela and Zimbabwe would be great places to live. Venezuela just came out with a million Bolívar bill. It is worth 63 cents USD. The government monthly pension in Venezuela will not buy a dozen eggs. But Bernie says he can do better. Be careful who you vote for

Newsletter

Related Articles

0:00
0:00
Close
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
×