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Fed’s Williams sees about three years for full U.S. recovery

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Economy8 hours ago (Sep 29, 2020 01:35PM ET)

© Reuters. John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York in the Manhattan borough of New York
© Reuters. John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York in the Manhattan borough of New York

(Reuters) – The U.S. recovery from the coronavirus-linked recession has been more robust than expected, a top Federal Reserve policymaker said on Tuesday, though he added it could be about three years before the economy regains its strength.

“We want to get back to maximum employment as soon as possible,” New York Fed President John Williams (NYSE:) said, adding that the economy would be strong and close to full employment “in about three years time.”

Still, he added, “there’s clearly a lot of unknowns” about the next few years.

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Live Updates: California wildfires, assisted by Santa Ana winds, force more than 100,000 to evacuate homes

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