“What we’re seeing now is really an economy that seems to be at an inflection point,” Powell said during a 60 minutes interview that will air on Sunday night.
“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,” Powell said. “So the principal risk to our economy right now really is that the disease would spread again. It’s going to be smart if people can continue to socially distance and wear masks.”
Powell's statements have moved markets in the past and with the S&P at an all-time high, his positivity should bode well for investors. Furthermore, Powell also touched on the acceleration of the vaccination campaign in the US. Almost every state in the US has made adults over the age of 16 eligible for shots. More information on the vaccination campaign can be found here.
Powell's comments should have an effect on stocks during Monday's session.