Treasury Secretary said the data "underscores the long-haul climb back to recovery" but added that she was still confident the country would return to full employment next year.
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.
The monthly bulletin was of the view that the recent increases in international and domestic energy prices are expected to have transitory effects on inflation.
Gold miners and iron ore miners skidded 4.4% and 1.3%, respectively, as bullion prices fell to a one-week low and Chinese iron ore futures retreated from record highs on Wednesday.
Assuming the COVID-19 vaccine rollout is successful and economic stabilization measures are implemented, growth is expected to accelerate to 4pc in 2022 with improved consumption and investor confidence.
Najam was of the view that despite challenges, the government should target to achieve a 6pc to 7pc growth rate and utilize all the resources at its disposal especially low-interest rate (policy rate).
