Arab Press

بالشعب و للشعب
Wednesday, Oct 01, 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

Arab Press
0:00
0:00
Close
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
×