US economy expected to grow 7%, fastest since 1980s

shahennews

The US economy is likely to expand by 7 percent this year as it bounces back from the crisis caused by the Covid-19 pandemic, its fastest rate since the early 1980s, a top Federal Reserve official said late Monday, according to the New York Times.

New York Fed President John Williams expected that “real GDP increasing around seven percent this year,” calling it “welcome progress after the toughest period for the economy in living memory.”

“While I am optimistic that the economy is now headed in the right direction, we still have a long way to go to achieve a robust and full economic recovery,” Williams said.

//Petra// WH