Fed's Williams sees about three years for full US recovery

Fed's Williams sees about three years for full US recovery

The U.S. recovery from the coronavirus-linked recession has been more robust than expected, a top Federal Reserve policymaker said on Tuesday, though he added it could be about three years before the economy regains its strength.

John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic
FILE PHOTO: John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York in the Manhattan borough of New York, U.S., March 6, 2019. REUTERS/Lucas Jackson

REUTERS: The U.S. recovery from the coronavirus-linked recession has been more robust than expected, a top Federal Reserve policymaker said on Tuesday, though he added it could be about three years before the economy regains its strength.

"We want to get back to maximum employment as soon as possible," New York Fed President John Williams said, adding that the economy would be strong and close to full employment "in about three years time."

Still, he added, "there's clearly a lot of unknowns" about the next few years.

(Reporting by Ann Saphir and Jonnelle Marte; Editing by Bernadette Baum)

Source: Reuters

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