02/04/2024: Chairman Powell, A Hole in the System, The Mismatch

60 Minutes

CBS News

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4 • 2.4K Ratings

🗓️ 5 February 2024

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Following the Federal Reserve’s announcement to hold interest rates steady, correspondent Scott Pelley interviews Fed Chair Jerome Powell in Washington, DC on inflation risks and the economy, the timeline for cutting rates, the health of the country’s banks, and more. Correspondent Sharyn Alfonsi reports on the fastest growing group entering the U.S. through the southern border – Chinese migrants. Alfonsi speaks with the migrants about following instructions posted on TikTok that guided them on their 7-thousand mile journey to the California desert where Chinese asylum seekers cross the border from Mexico through a 4-foot gap in the border fence. Technology has helped spur a sports betting boom. Correspondent Jon Wertheim examines what this has meant for sports fans, betting companies, and the gamblers – overwhelmingly young men – making snap bets anytime, anywhere.

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Transcript

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0:07.2	How do I tell them?
0:08.8	How do I tell them?
0:10.2	How do I pay the bills?
0:12.0	How do I pay the bills? How do I pay the bills?
0:14.0	I know what goes through your head when you're living with cancer.
0:18.0	The questions, the fears, the need to know.
0:22.0	How do I know? Because I'm living with cancer too. That's why I
0:27.2	joined the Macmillan online community and we can help people like you whatever
0:32.3	you need to ask.
0:34.1	To join us, search McMillan online community.
0:39.1	Sunday, we can't wait for the biggest game of the year.
0:44.0	Super Bowl 58 on CBS.
0:47.0	Two legendary franchises square off
0:49.5	when the unstoppable 49ers take on the chiefs who have their sights set on back-to-back
0:55.4	championships. Looking for himself and he's got it. Live coverage at 1130
1:00.2	a.m. Eastern Super Super Bowl 58, Sunday on CBS, and streaming on Paramount Plus. There's no better person to ask about the state of the American economy than Federal Reserve Chairman Jerome Powell.
1:23.2	We sat down with the Chairman for a rare interview to ask about the future of interest rates,
1:29.2	whether prices will come down, and what the Fed might do next.
1:34.0	Inflation has been falling steadily for 11 months.
1:38.0	You've avoided a recession.
	...

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