Federal Reserve Chair Sees U.S. Boom Ahead

WASHINGTON (AP) – The chairman of the Federal Reserve says the U.S. economy is poised for an extended period of strong growth and hiring even though the coronavirus still poses some risk. Chair Jerome Powell also tells CBS’ “60 Minutes” that he doesn’t expect this year to raise the Fed’s benchmark interest rate, currently pegged at nearly zero. In the interview aired Sunday night, Powell also downplays the risk of higher inflation stemming from sharp increases in government spending and expanding budget deficits.