Editor's Note:  On May 13, 2020, 60 Minutes correspondent Scott Pelley interviewed Federal Reserve Chairman Jerome Powell in the Board Room at the Federal Reserve headquarters in Washington, D.C. Below is the transcript of that interview. Scott Pelley's interview with Mr. Powell aired Sunday, May 17, 2020, on 60 Minutes.

In the Great Recession of 2009, eastern Massachusetts industries proved resilient, by and large. But today's economic crisis, driven by the coronavirus pandemic, looks very different from the one a decade ago.

To help us understand why, WBUR spoke to Jeffrey Thompson, a vice president and economist at the Federal Reserve Bank of Boston, and director of the New England Public Policy Center.

Thompson co-authored a living report on 'The Economic Fallout of the COVID-19 Pandemic in New England' — updated as recently as May 11. He says that New England's economic woes may be an "unfortunate harbinger" for the rest of the country.

Join experts from the Federal Reserve Board of Governors as they share key findings from the seventh annual Survey of Household Economics and Decisionmaking (SHED). Since 2013, the goal of the survey has been to gather and share a wide range of information about the financial challenges and opportunities facing individuals and households in the United States. The annual Report on the Well-Being of U.S. Households, which describes the SHED results, will be released shortly before the webinar.

The seventh round of the survey includes a special supplemental survey of individuals and household regarding their financial well-being in response to the COVID-19 pandemic. The supplemental survey was fielded during the first week of April and provides a unique first look at household conditions as the economy contracted in response to the pandemic.  

The 2019 survey findings provide a picture of how US households were situated in the months leading up...

Across the country, people are feeling the effects of the coronavirus pandemic, and here in New England, it’s no different. Although we are all affected in some way by the sudden and severe economic consequences of this virus, we are seeing that those who were already most vulnerable are suffering the worst outcomes.

In response to the undue economic stress caused by the pandemic, Congress passed the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March 2020. The Act provides financial assistance for individuals and families, states, and businesses impacted by COVID-19. A critical part of this stimulus bill is the Small Business Paycheck Protection Program (PPP), which offers billions of dollars in potentially forgivable loans through the U.S. Small Business Administration (SBA) to small businesses, so they can stay afloat and keep their workers on payroll during the crisis. Initial program funds of $349 billion ran out on April 16,...

Workers deemed “essential” on-site employees during the COVID-19 pandemic face some obvious and greater risks than those working at home – including a higher threat of virus exposure. But there are other costs, big and small, many didn’t see coming. One is severe irritation to the ears from the requirement to wear masks all day.

“When I tell you I thought I was going to have cuts around my ears from the material, I’m not kidding,” said Lisa Perlini, who leads the Federal Reserve Bank of Boston’s cash services division.

Luckily, this ear discomfort wasn’t entirely unanticipated. Boston Fed employee Mike Holbrook and his 12-year-old son, Harrison, foresaw the problem and researched a solution. Then they printed it.

The result is plastic mask extenders that take pressure off the ears. Holbrook and Harrison have been making the extenders with their 3D printer and with some help from a local company, and they’re giving them away...

Across the country, people are feeling the effects of the coronavirus pandemic, and here in New England, it’s no different. Although we are all affected in some way by the sudden and severe economic consequences of this virus, we are seeing that those who were already most vulnerable are suffering the worst outcomes.

In response to the undue economic stress caused by the pandemic, Congress passed the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March 2020. The Act provides financial assistance for individuals and families, states, and businesses impacted by COVID-19. A critical part of this stimulus bill is the Small Business Paycheck Protection Program (PPP), which offers billions of dollars in potentially forgivable loans through the U.S. Small Business Administration (SBA) to small businesses, so they can stay afloat and keep their workers on payroll during the crisis. Initial program funds of $349 billion ran out on April 16,...

Across the country, people are feeling the effects of the coronavirus pandemic, and here in New England, it’s no different. Although we are all affected in some way by the sudden and severe economic consequences of this virus, we are seeing that those who were already most vulnerable are suffering the worst outcomes.

In response to the undue economic stress caused by the pandemic, Congress passed the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March 2020. The Act provides financial assistance for individuals and families, states, and businesses impacted by COVID-19. A critical part of this stimulus bill is the Small Business Paycheck Protection Program (PPP), which offers billions of dollars in potentially forgivable loans through the U.S. Small Business Administration (SBA) to small businesses, so they can stay afloat and keep their workers on payroll during the crisis. Initial program funds of $349 billion ran out on April 16,...