Recovery of the U.S. economy until the end of 2021

Jay Powell has warned that a full US economic recovery may take until the end of 2021. “For the economy to fully recover, people will have to be fully confident. And that may have to await the arrival of a vaccine,” and added: “Assuming there is not a second wave of the coronavirus, I think you will see the economy recover steadily through the second half of this year.”

President of U.S. Donald Trump has repeatedly called for the next stimulus to include a cut to payroll taxes — deductions for entitlements such as social security and Medicare. Last week, Larry Kudlow, the top White House economic adviser, suggested that lower corporate taxes and looser business regulation should be part of any future relief package. His administration has taken a more bullish stance on the US economic recovery than Mr Powell.

Jerome Powell told for CBS that it was a “reasonable expectation that there will be growth in the second half of the year” but “we won’t get back to where we were by the end of the year.”

Disclaimer: The content of the Reports constitutes Marketing Communication and does not constitute Investment Advice or Investment Research or an offer for any transactions in financial instrument. The content of the Reports represents the view of our experts on a generic basis, and does not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the Reports have not been prepared in accordance with legal requirements designed to promote the independence of Investment Research, and are not subject to any prohibition on dealing ahead of the dissemination of Investment Research. Readers using the Reports should consider the possibility of encountering substantial losses. The past performance is not a guarantee of future results. Therefore, Goldenburg Group Limited shall not accept any responsibility for any losses of traders due to the use and the content of its Reports.