In an interview with news magazine show 60 Minutes, Powell says, “We feel like we’re at a place where the economy is about to start growing much more quickly and job creation coming in much more quickly, so the principal risk to our economy right now is that the disease would spread again,” Powell said. “It’s going to be smart if people can continue to socially distance themselves and wear masks.”
Recent data supports his statement: an estimated 916,000 jobs were created in March with Fed officials optimistic that figures could go up to a million jobs a month later this year.
With the vaccine rollout at full speed, some of the hardest-hit sectors of the economy are reopening and are seeing pockets of activity; consumers have regained confidence to dine out and travel.
Fed policymakers also remain committed to the massive support they are providing to the economy through near-zero interest rates and $120 billion a month of bond purchases. While inflation is likewise expected to pick up, policymakers are seeing it as transitory.
As financial institutions prepare to meet the demands of an impending economic resurgence, cybersecurity services, and IT compliance measures must already be in place to ensure seamless day-to-day operations. Let Nashville’s ImageQuest assist your bank with IT assessments, regulatory IT compliance, and improved cybersecurity services so you can help your community thrive. We would be more than happy to sit down with you and discuss your IT issues, data security concerns, and regulatory to-do list. Our experts are ready to help with technology planning, vendor management, incident response planning, reports for your board or audit committee, and other documentation examiners require.
Your mission is to fund ideas, support the local community, and create a stable future for many families. With ImageQuest onboard, you can focus on the aspects of banking you love – and confidently let go of the IT issues keeping your team up at night.
As Nashville’s top cybersecurity service provider, ImageQuest supports more than 5,000 technology users in 29 states. Visit their website or call 502-400-3300 to learn more.