US Fed chief says economic recovery could stretch through end of 2021

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Washington, May 18 | The US economy will recover from the COVID-19 pandemic, but the process could stretch through until the end of 2021, Federal Reserve Chairman Jerome Powell has said.

“Assuming there’s not a second wave of the coronavirus, I think you’ll see the economy recover steadily through the second half of this year,” Powell said in an excerpt of an interview that aired Sunday morning on CBS’s “Face the Nation.”

“For the economy to fully recover, people will have to be fully confident. And that may have to await the arrival of a vaccine,” he said, Xinhua news agency reported.

The Fed chief noted that people should not “bet” against the American economy in the long run, even in the medium run.

“This economy will recover. It may take a while. It may take a period of time. It could stretch through the end of next year. We really don’t know,” he said.

At an online event held by the Washington-based think tank Peterson Institute for International Economics on Wednesday, Powell warned that a prolonged recession and weak recovery from the pandemic could lead to an extended period of low productivity growth and stagnant incomes.

While the economic response has been “both timely and appropriately large,” it may not be the final chapter, given that the path ahead is both “highly uncertain” and subject to “significant downside risks,” he said.

“The scope and speed of this downturn are without modern precedent, significantly worse than any recession since World War II,” said the Fed chief.

More than 36.5 million Americans have applied for unemployment benefits since the COVID-19 pandemic forced widespread business closures in mid-March, according to the Labor Department.

Source: IANS

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Nirman Nagar Kajarwara Jabalpur by One Realty Developers - BhaskarProperty.com

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Singlex & Duplex Specification

FRAMEWORK RCC framed structure. SUPERSTRUCTURE Conventional brick masonry.

DOORS Main Door – Teak wood frame & shutter. Internal Doors – Sal wood frame and Flush door, PVC door for the toilet.

WINDOWS Anodized aluminum windows with grills.

FLOORING Vitrified tiles flooring with skirting in living/dining and all bedrooms. Anti-skid ceramic tile flooring in toilets, balconies, and utility areas. Paver blocks for car portico.

KITCHEN Granite countertop with ceramic tile dado up to 2 feet above the counter and stainless steel sink (Single bowl, single drain) Ceramic tile cladding in the wash area. Provision of the aqua guard water point.

WALL FINISHES All interior walls with a smooth finish and Acrylic emulsion paint over Birla / JK cement putty. All exterior walls with cement-based exterior paint of Apex or equivalent. Plaster of Paris / molding work in drawing and dining area.

TOILETS/ BATHS European WC’s washbasins of Hindware / Parryware or equivalent make. Provision for a shower in toilets.

POWER Concealed copper wiring of standard make. Power plugs in all necessary areas. Electrical fittings and fixtures of Anchor / Roma or equivalent make. Provision of points for the electric chimney, exhaust fans in kitchen bathrooms, air conditioners in rooms.

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Current Projects of One Realty Developers
Nirman Nagar Jabalpur, Kajarwara, Jabalpur

Projects Delivered by One Realty Developers
Aura City Jabalpur, Barela, Jabalpur
Nirvana City Jabalpur, Barela, Jabalpur
Gulmohar Greens Jabalpur, Barela, Jabalpur
Nirvana Exoticaa Jabalpur, Nirvana Exoticaa – Phase 1 & 2, Barela, Jabalpur

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