The coronavirus epidemic continues to weigh heavily on the U.S. economy and progress towards a full recovery is expected to be slow and uneven, Federal Reserve Governor Michelle Bowman said on Wednesday.
The economy has rebounded sharply in recent months, but it is far from returning to normal.
“The timing, the severity of the effects of the pandemic differ greatly by region.”
“Stimulus checks and improved unemployment benefits have been a substantial source of support.”
“The Fed will continue to monitor progress, react quickly and flexibly to support the recovery.”
The US dollar index largely ignored these comments and was last seen losing 0.15% on the day to 92.88.