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10/21/2020, 3:07 PM (Source: TeleTrader)
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Recovery remains highly uncertain, uneven - Fed's Brainard

Federal Reserve Governing Board member Lael Brainard (pictured) asserted on Wednesday that the economic recovery from the coronavirus crisis in the United States "remains highly uncertain and highly uneven."

"Further targeted fiscal support will be needed alongside accommodative monetary policy to turn this K-shaped recovery into a broad-based and inclusive recovery," she explained in her speech at the "Post-COVID-Policy Challenges for the Global Economy" Society of Professional Economists Annual Online Conference.

According to Brainard, the US economy "appears likely to have reversed more than one-half" of losses recorded in the first half of 2020 in the third quarter. However, "the pace of labor market improvement is decelerating at a time when employment is still far short of its maximum level," she underscored.

Breaking the News / GA