A Bright Outlook for the U.S. Economy

Loretta Mester

Speech from Federal Reserve Bank of Cleveland

Abstract: What a difference a year makes! The pandemic has made the past year an incredibly challenging one for so many in the U.S. and across the world. In the U.S., the economic effects have fallen disproportionately on those segments of the population whose economic situations make them the most vulnerable: low-income workers, minority workers, and women and working mothers. Many households and businesses continue to struggle. But with the positive developments on the virus front, including widespread deployment of COVID vaccinations throughout the U.S., with continued support from fiscal and monetary policy, and with the remarkable adaptability and resiliency that households and businesses have shown throughout the pandemic, an economic recovery is now clearly underway. The tone of my talk today will be decidedly different from what you would have heard a year ago. While risks remain, the outlook is bright.

Keywords: COVID-19 (search for similar items in EconPapers)
Pages: 12
Date: 2021-05-05
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