Fed's Powell: 2021 GDP growth could be in range of 6%

(Reuters) - Federal Reserve Chair Jerome Powell on Tuesday said the U.S. economy may grow in the range of 6% this year as a recovery from the COVID-19 pandemic gathers pace on the back of the rollout of vaccines against the disease. Asked during an appearance before the Senate Banking Committee if gross domestic product might grow by as much as 6% as many economists now predict, Powell said: 'It could be in that range.' Powell also said GDP could reach its pre-pandemic level sometime in the first half of this year, but he declined to specify that could happened as early as this month

Reuters February 24, 2021 00:06:45 IST
Fed's Powell: 2021 GDP growth could be in range of 6%

Feds Powell 2021 GDP growth could be in range of 6

(Reuters) - Federal Reserve Chair Jerome Powell on Tuesday said the U.S. economy may grow in the range of 6% this year as a recovery from the COVID-19 pandemic gathers pace on the back of the rollout of vaccines against the disease.

Asked during an appearance before the Senate Banking Committee if gross domestic product might grow by as much as 6% as many economists now predict, Powell said: "It could be in that range."

Powell also said GDP could reach its pre-pandemic level sometime in the first half of this year, but he declined to specify that could happened as early as this month.

(Reporting by Jonnelle Marte)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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