economy
Amid tough job market for young Americans, Fed Chair Powell tells students not to despair
Updated on: March 30, 2026 / 3:01 PM EDT / CBS News
TL;DR
- Fed Chair Jerome Powell spoke to an undergraduate economics class at Harvard University.
- He encouraged young Americans facing a tough job market to remain patient, assuring them of future opportunities in the dynamic U.S. economy.
- Powell addressed inflation, stating that longer-term expectations are stable despite the war in Iran and rising oil prices.
- He expressed optimism about artificial intelligence, believing it will enhance worker efficiency and productivity.
- Powell advised young workers to invest time in mastering new technologies to benefit from them.
- The unemployment rate for 20 to 24-year-olds is 7.4%, and overall job creation has been slow.