The Fed will continue to support economy and Dollar
Federal Reserve Chairman Jerome Powell will address Congress. The report says that the growth rate of economic activity in the country was higher than previously expected. Nevertheless, it will take time for the US economy to return to its pre-crisis state. It is still far from being fully restored. In this regard, the Fed does not plan to wind down the aid program in the near future. Support for the economy will be provided for as long as the situation requires. Jerome Powell gave a positive assessment of the support measures that were developed and approved by Congress. However, he noted that despite this, some residents of the country are still in need. According to the latest forecast of the Federal Reserve, the US economy may grow by 6.5% this year. In 2022, growth will slow to 3.3%. The inflation rate may rise to 2.4% by the end of the year from the current level of 1.8%. However, in the next two years, it will decrease and will be near the target value of 2%.