Still in a “tentative” stage, she added.
Esther George, the President of the Kansas City Federal Reserve, said the economy is beginning to show “signs of life,” and she thinks it will “continue to grow.”
She predicts there will be a rebound after a historic drop in GDP growth in the second quarter of about 32.9%, according to the Bureau of Economic Analysis. She also forecasts that unemployment will go into high single digits by the end of the year.
“I think for now, what we are seeing is signs of life,” she said. “We are beginning to see the economy come back online. But, of course, that’s tentative at this stage. And so we’re going to need more time. And importantly, we’re going to need to know really the path of the virus and resolution to that before we can really make firm assessments about where the economy is headed.”
As the Lord Leads, Pray with Us…
- That the American economy would rebound in a sustainable and stable way.
- For individuals who remain out of work and businesses that remain closed to be able to swiftly reverse their course.
- That the coronavirus pandemic would end and not surge again in the fall.
Sources: Newsmax, Fox Business
