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6/23, 11:41 PM (Source: TeleTrader)
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Robust recovery is under way - Fed's Rosengren

Boston Federal Reserve Bank President Eric Rosengren described the underway economic recovery in the United States as "robust," attributing the improvement to the faster-than-expected vaccine rollout in the country.

Speaking at a webinar organized by the New England chapter of the National Association of Corporate Directors, Rosengren reiterated that the recently observed inflation is "transitory," but underlined that "many sectors" of the economy still feel the impact of the COVID-19 pandemic.

He predicted that inflation will return to the 2% mark by 2022 despite the prior two months' trend.

Breaking the News / BU