The prospects for the recovery of the American economy from the consequences of the pandemic of the new coronavirus remain extremely uncertain, said the chairman of the US Federal Reserve System (FRS) Jerome Powell.
“The recovery is faster than expected overall, and FOMC members’ forecasts for economic growth this year have been revised upward from their forecast in June. Despite this, [уровень экономической] activity remains generally lower than it was before the pandemic, and the path forward remains largely uncertain, ”Powell said. TASS.
According to the head of the Federal Reserve, a complete economic recovery in the United States will probably not be until the pandemic subsides and people are confident that a full return to work is safe.
He also noted that the labor market in the United States has improved, but there is still a long way to go to full recovery. “The number of initial applications [на получение пособий по безработице] has dropped very sharply from the extremely high level seen in March and April to a lower level, and it continues to remain either at the same level or gradually declining, ”Powell said.
“This suggests that the situation on the labor market has improved, but there is still a long way to go to maximum employment, and it will take some time to return to what it was,” – said the head of the Fed.
“There were simply too many disruptions in many sectors of the economy. And now it’s really hard to say exactly where we’re at, ”Powell added.
Formerly the head of the US Treasury warned about the threat of destruction of the American economy.
Recall, according to the assessment of the Bureau of Economic Analysis of the US Department of Commerce, the GDP of the United States for the second quarter collapsed by 33%. At the same time, the head of the US Federal Reserve Jerome Powell in May predicted collapse of US GDP in the second quarter by 20%.
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