By Ann Saphir (Reuters) - As the White House and Congressional Democrats press for a $1.9 trillion pandemic relief package that many Republicans say is more than what the country needs or can afford, Federal Reserve policymakers are also split on the issue. We are still in the teeth of this pandemic - and we are not out of the woods yet, Dallas Fed President Robert Kaplan told the Chicago Council on Global Affairs in an online event Monday. He forecast, as vaccines get rolled out and more businesses can reopen, the U.S. economy will likely grow about 5% this year, enough to push unemployment down to 4.5%, from 6.7% in December.
Fed dissent and bond volatility are in Powell s taper future
Craig Torres and Liz Capo McCormick, Bloomberg News Jerome Powell Photographer: Andrew Harrer/Bloomberg , Bloomberg
Jerome Powell doesnât want to talk about scaling back massive Federal Reserve asset purchases at least not yet but itâs only a question of time before the discussion resumes and that might not be a bad thing.
The Fed chair told reporters on Jan. 27 that âthe whole focus on exit is prematureâ a clear call to his colleagues to focus on whatâs in front of them rather than the forecast.
Fed policy makers, like lawmakers, split on need for more fiscal aid
As the White House and Congressional Democrats press for a $1.9 trillion pandemic relief package that many Republicans say is more than what the country needs or can afford, Federal Reserve policymakers are also split on the issue.
“We are still in the teeth of this pandemic – and we are not out of the woods yet,” Dallas Fed President Robert Kaplan told the Chicago Council on Global Affairs in an online event Monday.
He forecast, as vaccines get rolled out and more businesses can reopen, the U.S. economy will likely grow about 5% this year, enough to push unemployment down to 4.5%, from 6.7% in December.
Fed policy makers, like lawmakers, split on need for more fiscal aid By Ann Saphir
FILE PHOTO: The Federal Reserve building is pictured in Washington, DC
(Reuters) – As the White House and Congressional Democrats press for a $1.9 trillion pandemic relief package that many Republicans say is more than what the country needs or can afford, Federal Reserve policymakers are also split on the issue.
“We are still in the teeth of this pandemic – and we are not out of the woods yet,” Dallas Fed President Robert Kaplan told the Chicago Council on Global Affairs in an online event Monday.
He forecast, as vaccines get rolled out and more businesses can reopen, the U.S. economy will likely grow about 5% this year, enough to push unemployment down to 4.5%, from 6.7% in December.