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9/24, 6:18 PM (Source: TeleTrader)
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Bullard: US economy may be within reach of full recovery by year-end

Federal Reserve Bank of St. Louis President James Bullard said on Thursday that the United States economy is on its way to recover from the coronavirus shock and could be close to full recovery by the end of the year.

"I expect this rebound to continue in the US as businesses learn how to produce products and services safely using simple, existing technology," Bullard said at a webinar for the Global Interdependence Center (GIC). "Very rapid third-quarter GDP growth may put the US economy within reach of a sort of ‘full recovery’ by the end of 2020," he added.

Bullard reiterated that the US monetary and fiscal policies amid the pandemic have been "exceptionally effective" but warned the downside risk "remains substantial" and will depend on the way the country continues to manage the health crisis.

Breaking the News / NP