Fed sees “almost complete opening” of US economy due to rapid vaccination – Business – 09/04/2021

Head of Federal Reserve (Fed by), Jerome PowellThursday, Thursday, confirmed that progress is accelerating vaccination Locates United State “On the way to a full opening of the economy in the near future,” although he stressed that the recovery “remains incomplete and erratic.”

“We want to see a bunch of months with reports The unemployment Like in March (when more than 900,000 jobs were created and the rate dropped to 6%) so we can really make progress toward our goals, ”Powell said in a discussion on the global economy with the general manager of International Monetary Fund (International Monetary Fund) , Kristalina Georgieva, In the spring gathering of the living being.

Powell realized that fast The vaccination rate in the United States. , With more than 3 million doses vaccinated per day, is putting the country “on the path towards a full re-opening of the economy soon.”

However, he reiterated that an exceptional policy Monetary stimulus It will last for a while, as “the recovery remains incomplete and uneven” with more than 8.5 million unemployed.

About fears of a possible rebound in Economic inflation, Powell insisted that the Federal Reserve expected a “temporary and transient” rise in prices, which he considered “should not be a problem.”

The US Central Bank has been buying US Treasury bonds for $ 80 billion and mortgage-backed assets for an additional $ 40 billion since last June.

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It also maintains interest rates Around 0%, after a sharp cut in March 2020.

The International Monetary Fund this week raised its forecast for US economic growth to 6.4% for 2021, compared to the 5.1% projected in January, after Congress approved an ambitious fiscal stimulus package, placing the US economy as one of the global engines for alongside China.

The next meeting of the Federal Reserve on monetary policy is slated for April 27-28.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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