Biden adviser Deese sees 'durable momentum in the economy' despite delta variant spread
Deese says jobs, wages up in face of delta variant
National Economic Council Director Brian Deese discusses the Delta variant's impact on US economic recovery and the expiring eviction moratorium.
National Economic Council Director Brian Deese on Sunday said that he sees "durable momentum in the economy" despite the spread of the COVID-19's highly transmissible delta variant.
Deese appeared on "Fox News Sunday" to address the potential threat of the variant on the economy, stating that the U.S. is in a "very different position" now than the "economic freefall" it was in last year.
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"We're creating jobs at a record pace, jobs are plentiful and wages are going up, and nearly 70% of Americans have gotten the first vaccine," he said.
"So we are in a fundamentally different place," Deese said. "We have to stay vigilant, we have to stay focused, but we, our economy, and this recovery are strong, and there's durable momentum in the economy, we just have to keep that going."
Deese’s remarks come after Federal Reserve Chairman Jerome Powell said last week that policymakers at the U.S. central bank see no cause for alarm from the resurgence of COVID-19 cases nationwide.
The spike in new COVID-19 cases has rattled investors, who are worried that rising infections could bring about new lockdown measures and a drawn-out economic recovery.
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Deese added that an infrastructure package that invests not only in roads, bridges and broadband, but also childcare will help to sustain a strong recovery.
"If we can get more people into the workforce, by investing in things like quality childcare, so more parents and more women can work in the workforce, that will increase labor supply, it'll actually reduce price pressures on our economy."
Fox Business’ Megan Henney contributed to this report.