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Sunday, July 25, 2021

US economic growth to gain momentum thanks to mass vaccinations: Boston Fed Governor

Boston Federal Reserve Bank (FRB) Governor Eric Rosengren believes U.S. economic growth will gain momentum this year thanks to massive vaccinations that will limit the spread of the coronavirus.

“The successful introduction of vaccines by mid-summer will mean that in the second half of this year, economic growth will intensify, including thanks to stimulating policies – both monetary and fiscal,” Rosengren was quoted as saying by Dow Jones.

According to him, support from the state will remain an important factor for economic recovery.

“The authorities have actively responded to the situation in the economy due to the pandemic and are ready to continue additional fiscal and monetary stimulus necessary to prevent further deterioration in the labor market and the economy as a whole,” Rosengren said.

Rosengren does not have a vote on the Federal Open Market Committee (FOMC) this year.

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