Pedro Nicolica da Costa, a Federal Reserve and economy correspondent at Market News International , retweeted an article on Federal policymakers remaining optimistic about the performance of the US economy.
According to Richmond Fed President, Thomas Barkin, the pandemic economy will pause just before taking off, as excess savings and fiscal stimulus funds will now be utilised by consumers and businesses alike, and with growing vaccinations and warmer weather.
The Fed president believes that the economy’s growth and spending will remain strong through 2022 and 2023.
Atlanta Federal Reserve Bank President, Raphael Bostic, also stated that a burst of business activity during the summer could add a million jobs during the month.
Economists have further predicted an addition of 650,000 jobs by the end of March 2021.