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Evans: still a long way to go before US economy recovers

4 Sep 2020 01:05 PM

Chicago Federal Reserve Chairman Charles Evans indicated yesterday that much more needs to be done before the US economy returns to pre-pandemic growth levels.

Evans stressed that more financial exemptions are needed to counter the negative effects of the outbreak, while stressing that economic activity is likely to remain "curbed" until the virus is brought under control.

He predicted that the economy would recover by late 2022, and that the country's unemployment rate may peak at 9%.

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