Fed’s Bowman: Economy Rapidly Recovering from COVID-19 Recession

The United States economy has been recovering at a rapid pace from the impact of the COVID-19 crisis, however, unemployment remains quite high, which means more monetary and fiscal support are needed, Federal Reserve Governor Michelle Bowman said on Wednesday, Reuters reported.

“Even with this support, however, I anticipate that the path toward full recovery will be bumpy and that our progress will likely be uneven.”

“I also expect the pace of the recovery will continue to vary from area to area and will be heavily influenced by not only the course of the virus but also the public policy decisions made across all levels of government.”