Powell Says Economic Outlook Is 'Extraordinarily Uncertain'

The transcript discusses the severe impact of joblessness on vulnerable groups, including lower-wage workers, women, and minorities, due to the pandemic. It highlights the uncertainty surrounding the economic outlook, which depends on controlling the virus. The rise in COVID-19 cases poses challenges, and a full recovery requires public confidence in safety. Positive vaccine news offers hope, but challenges remain in distribution and efficacy.

Which group has been most affected by joblessness during the economic downturn?

• High-income earners

• Lower-wage workers in the service sector

• Technology sector employees

• Government employees

What is a major factor that the economic outlook depends on?

• Efforts to control the COVID-19 virus

• The stock market performance

• Interest rate changes

• International trade agreements

What is a significant concern regarding the rise in COVID-19 cases?

• It could challenge economic recovery efforts

• It will cause a decrease in online shopping

• It will result in higher taxes

• It may lead to increased travel restrictions

What recent development is considered positive for the medium-term economic outlook?

• Vaccine news

• Increase in consumer spending

• Decrease in unemployment rates

• New trade agreements

What are some of the challenges remaining with the vaccine rollout?

• Limited media coverage

• High costs for consumers

• Timing, production, and distribution issues

• Lack of public interest