US economy likely to grow between 5-6% in 2021

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Sun, 2021-03-07 01:43

ATLANTA: The US economy could grow between 5 percent and 6 percent this year, Atlanta Fed President Raphael Bostic said on Friday.

He said the economy is still under “considerable distress” and the Federal Reserve will continue to provide support until the labor market is stronger and average inflation is on track to meet the US central bank’s long-term target.

“We’re ready and able … to support the recovery as long and as strongly as necessary,” Bostic said during a virtual event organized by Stanford University.

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