Fed’s Bullard Expects Recovery in Coming Months

President of the Federal Reserve Bank of St. Louis, James Bullard, said on Wednesday that he expects the U.S. economy to recover in 2021 with the Coronavirus pandemic easing over the first half of the year, Reuters reported.

“The health crisis will wane in the months ahead.”

According to Bullard, with more people being vaccinated, families will be able to improve their savings and resources, which will reflect positively on the overall economy.

“Monetary and fiscal policies have been especially aggressive, and the associated macroeconomic outcomes have been considerably better than expected.”

Moreover, the St. Louis Fed President suggested that the unemployment rate in the United States could decline from 6.7% to 4.8% in the months ahead.

Bullard’s remarks came during an event organized by the CFA Society of St. Louis.