Fed’s Evans Sees Unemployment at 5.5% by End of Next Year

The President of the Federal Reserve Bank of Chicago, Charles Evans, said on Tuesday that a new wave of COVID-19 might not affect the United States economy as previously estimated.

Evans expects unemployment rate in the US will reach 5.5% by the end of 2021, Reuters reported.

“I sort of put less weight on the adverse economic consequences of a second or third wave based upon the experience that we’ve seen – so it would have to be even worse than what we see.”

“We seem to be powering through this no matter how adverse and horrific those consequences are for households, families around the country.”