{"id":110906,"date":"2021-03-30T20:49:43","date_gmt":"2021-03-30T20:49:43","guid":{"rendered":"https:\/\/fin2me.com\/?p=110906"},"modified":"2021-03-30T20:49:43","modified_gmt":"2021-03-30T20:49:43","slug":"ny-feds-williams-says-a-lot-of-positives-ahead-for-the-economy","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/ny-feds-williams-says-a-lot-of-positives-ahead-for-the-economy\/","title":{"rendered":"NY Fed's Williams says "a lot of positives" ahead for the economy"},"content":{"rendered":"
FILE PHOTO: John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS\/Carlo Allegri<\/figcaption>

NEW YORK (Reuters) – As more Americans are vaccinated and households and businesses benefit from fiscal support, there are reasons to be optimistic about the U.S. economy, New York Federal Reserve Bank President John Williams said on Tuesday.<\/p>\n

\u201cI\u2019m optimistic about the overall economy,\u201d Williams said during a virtual event organized by the New York Fed and AARP about small businesses. \u201cWe\u2019re making great strides on the vaccination program…I think we have a lot of positives going forward.\u201d<\/p>\n

The policymaker said low interest rates caused by the Fed\u2019s rate cuts reduce borrowing costs and can help the economy rebound, he said.<\/p>\n

Fed officials agreed at their March meeting to leave interest rates at near zero levels and to keep purchasing $120 billion a month in bonds until \u201csubstantial further progress\u201d is made for the central bank\u2019s goals on inflation and the labor market.<\/p>\n

But fiscal support, including aid to households and small businesses, will also be important for the recovery going forward, Williams said.<\/p>\n

Earlier on Tuesday, the New York Fed and AARP released research showing that the coronavirus pandemic dealt a heavy blow to small businesses owned by older Americans from minority groups, and that Asian-owned firms were particularly hard hit by closures and revenue declines.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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