The Federal Reserve on Wednesday projected that the U.S. economy will contract by 6.5 percent this year but rebound next year as the nation continues to battle the coronavirus pandemic.
The central bank expects to keep an extraordinary level of support for the economy in place for years, estimating that interest rates will stay near zero at least through the end of 2022.
According to the Fed’s forecasts, the U.S. economy will grow at 5 percent next year and 3.5 percent the year after.
Read more at POLITICO.
{Matzav.com}
