ANL 34.10 Decreased By ▼ -0.15 (-0.44%)
ASC 13.65 Increased By ▲ 0.30 (2.25%)
ASL 23.40 Increased By ▲ 0.80 (3.54%)
AVN 85.60 Increased By ▲ 1.90 (2.27%)
BOP 7.70 No Change ▼ 0.00 (0%)
BYCO 9.44 Increased By ▲ 0.07 (0.75%)
DGKC 111.51 Increased By ▲ 1.31 (1.19%)
EPCL 48.99 Decreased By ▼ -1.90 (-3.73%)
FCCL 22.85 Increased By ▲ 0.09 (0.4%)
FFBL 25.47 Decreased By ▼ -0.23 (-0.89%)
FFL 15.33 Increased By ▲ 0.03 (0.2%)
HASCOL 8.94 Decreased By ▼ -0.06 (-0.67%)
HUBC 78.43 Decreased By ▼ -0.57 (-0.72%)
HUMNL 6.13 Increased By ▲ 0.29 (4.97%)
JSCL 19.14 Increased By ▲ 0.44 (2.35%)
KAPCO 40.50 Increased By ▲ 1.11 (2.82%)
KEL 3.72 Increased By ▲ 0.04 (1.09%)
LOTCHEM 14.20 Decreased By ▼ -0.15 (-1.05%)
MLCF 42.75 Increased By ▲ 0.45 (1.06%)
PAEL 30.90 Decreased By ▼ -0.17 (-0.55%)
PIBTL 9.52 Increased By ▲ 0.07 (0.74%)
POWER 8.61 Increased By ▲ 0.17 (2.01%)
PPL 82.50 Decreased By ▼ -0.80 (-0.96%)
PRL 23.09 Increased By ▲ 0.32 (1.41%)
PTC 9.00 Decreased By ▼ -0.20 (-2.17%)
SILK 1.38 Decreased By ▼ -0.02 (-1.43%)
SNGP 38.90 Increased By ▲ 0.31 (0.8%)
TRG 165.00 Increased By ▲ 1.78 (1.09%)
UNITY 35.80 Increased By ▲ 0.87 (2.49%)
WTL 1.53 Increased By ▲ 0.08 (5.52%)
BR100 4,846 Increased By ▲ 46.43 (0.97%)
BR30 24,817 Increased By ▲ 123.55 (0.5%)
KSE100 45,175 Increased By ▲ 231.06 (0.51%)
KSE30 18,470 Increased By ▲ 86.89 (0.47%)

Coronavirus
VERY HIGH
Pakistan Deaths
18,993
7824hr
Pakistan Cases
861,473
344724hr
Sindh
292,644
Punjab
319,365
Balochistan
23,447
Islamabad
78,200
KPK
124,484
Markets

US to see growth boom, but Fed's Williams says inflation not a worry

  • He credited the Fed's stimulative policies, including interest rates near zero, with having "positive effects" on the economy, enabling Americans to purchase homes and big-ticket goods.
04 May 2021

WASHINGTON: The US economy is likely to see its fastest growth in nearly four decades this year, but the short-term inflation spike that will come with the rebound is not a cause for concern, a top Federal Reserve official said Monday.

The world's largest economy still needs to see several months of strong employment growth to achieve a full recovery, said John Williams, president of the Fed's influential New York branch, stressing that the central bank will be in no hurry to alter its stimulative policies.

US GDP will expand by around seven percent this year as it bounces back from the Covid-19 pandemic, Williams said, calling it "welcome progress after the toughest period for the economy in living memory."

But "While I am optimistic that the economy is now headed in the right direction, we still have a long way to go to achieve a robust and full economic recovery," Williams said in a speech to the Women in Housing and Finance annual conference.

He credited the Fed's stimulative policies, including interest rates near zero, with having "positive effects" on the economy, enabling Americans to purchase homes and big-ticket goods.

"In fact, with accommodative financial conditions, strong fiscal support and widespread vaccinations, I expect that the rate of economic growth this year will be the fastest that we've experienced since the early 1980s," he said.