logo |

News

    Home   >     Industry    >     Main body

    NY Fed's Williams Says Omicron Wave May Slow Growth Temporarily

    Abstract:The surge of infections caused by the omicron COVID-19 variant may slow growth over the next several months and prolong supply chain challenges, but the U.S. economy should return to a stronger trajectory after the wave passes, New York Federal Reserve Bank President John Williams said Friday.
    搜狗截图22年01月17日0958_1.png

      The surge of infections caused by the omicron COVID-19 variant may slow growth over the next several months and prolong supply chain challenges, but the U.S. economy should return to a stronger trajectory after the wave passes, New York Federal Reserve Bank President John Williams said Friday.

      Businesses may take a hit in the near-term as consumers move away from in-person activities and some firms may still struggle to find workers, Williams said. But the disruptions may not be enough to derail the U.S. economy, which may grow by 3.5% this year, he said.

      'Solild GrowthTrajectory,' Unemployment of 3.5% Ahead

      “Once the omicron wave subsides, the economy should return to a solid growth trajectory and these supply constraints on the economy should ebb over time,” Williams said in remarks prepared for a virtual event organized by the Council on Foreign Relations.

      The Fed official said he expects the labor market to continue healing as the economy grows, forecasting that the unemployment rate will drop to 3.5% this year.

      A combination of strong demand for goods and supply bottlenecks pushed inflation up to “considerably high” levels, Williams said.

      But pricing pressures may ease as growth slows and supply constraints are resolved, he said, adding that he expects inflation to drop to around 2.5% this year and close to 2% in 2023.

      Policymakers are expected to debate strategies for raising interest rates and reducing more than $8 trillion in bond holdings when they meet in two weeks. A steady drumbeat of Fed officials, including Fed governor Lael Brainard, said this week that the central bank may raise rates as soon as it concludes its bond purchasing program in March.

      Williams said “gradually” raising interest rates would be the next step in removing accommodation, but did not comment on the timing or pace of potential rate increases, saying those decisions would be based on economic data.

      For more blockchain news, please download WikiBit - the Global Blockchain Regulatory Inquiry APP.

    微信图片_20210826111730.png

    Read more

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.