The US economy was recovering stronger than expected until recently, it said on Wednesday. New York Federal Reserve Chairman John Williams, Reuters reported.
Additional conclusions
“We are still in a very deep recession.”
“Recent data showed signs of a slowdown in the pace of growth due to the second wave of COVID cases.”
“Growth is also slowing down due to the lack of fiscal aid, which is either expiring or declining.”
“The economy in 2021 will depend on when the vaccine becomes widely available.”
Market reaction
These comments did not help the dollar find demand. At time of writing, the US Dollar Index was down 0.18% on the day at 91.15.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
