• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Thursday, March 23, 2023
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home US News US Business

Fed’s Harker says lost jobs will come back, but US should be patient

Loud Silence Staff by Loud Silence Staff
April 16, 2020
in US Business
0
Fed’s Harker says lost jobs will come back, but US should be patient
3
SHARES
16
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

[ad_1]

Philadelphia Federal Reserve President Patrick Harker expressed optimism Thursday that many of the 22 million jobs lost so far during the coronavirus lockdown will come back, though he said the nation shouldn’t rush.

Instead, he counseled a slow return to normalcy, with parts of the economy that can practice social distancing to reopen first and others to come back online as medical advances make it possible.

“We’re going to hit a period where it’s going to be pretty bad. It’s pretty bad right now,” Harkin said during an interview on CNBC’s “Closing Bell.” “We will climb out of this. It’s not going to be a sudden bounceback. I mean, it just doesn’t make sense to me. There’s going to be certain industries like travel and tourism and hospitality and so forth that will take some time to recovery.”

One industry he cited specifically was construction. Pennsylvania’s construction employment was at 266,000 in February and had been showing the state’s biggest growth among all occupations prior to the coronavirus construction. 

Since then, the U.S. has record-breaking numbers of workers head to the unemployment line, with 5.2 million more filing over the past week.

“I’m confident that a lot of the projects that were in train, we’re going to just get back on those and get them done,” he said. “Those jobs will come back.”

Economists have been debating what the recovery will look like, with many suspecting a “U” shape, representing a longer downturn, through the Trump administration has been pushing more of a “V” scenario where growth rebounds quickly.

Harker did not provide a forecast, saying only that he expects the Fed to continue with strong levels of policy support until it’s convinced that the economy is back on solid footing.

Central bank officials have cut their benchmark interest rate to near zero and implemented a series of liquidity and lending programs aimed at supporting the markets and the economy.

“I think in terms of monetary policy we’re going to stay low until we really see the economy starting to recover back to our dual mandate” of full employment and inflation around 2%, he said. “Exactly how long that is, this really is a function of how quickly medical science and industry can put in place the tools, the testing regimes, the vaccines etc. to keep the American public safe. The worst thing we can do in my mind is rush this, and we’re in a situation then where we could have a significant rebound of Covid-10, which would just set us back.”

He said officials should try to restart the economy “as prudentially and as quickly as possible.”

[ad_2]

This content first appear on cnbc

You might also like

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

Global cases top 3.6 million, Trump says more deaths inevitable

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

Tags: Breaking newsBreaking News: Economybusiness newsCoronavirusEconomyFederal Reserve SystemMarkets
Previous Post

US HCW Infections and Deaths, CPR Guidance

Next Post

Rebecca Foundation Presents Relief Boxes To Greater Kumasi

Loud Silence Staff

Loud Silence Staff

Related Posts

US Business

Billionaire Mark Zuckerberg loses $5.9bn in a day as Facebook faces rare outage, whistleblower testimony

by News Reporter
October 5, 2021
Global cases top 3.6 million, Trump says more deaths inevitable
US Business

Global cases top 3.6 million, Trump says more deaths inevitable

by Loud Silence Staff
May 6, 2020
Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition
US Business

Supreme Court says Justice Ruth Bader Ginsburg underwent treatment for gallbladder condition

by Loud Silence Staff
May 6, 2020
US Business

United Airlines service workers sue over schedule cuts after airline got federal coronavirus aid

by Loud Silence Staff
May 5, 2020
Disney reports quarterly earnings, and TikTok gains more influence
US Business

Disney reports quarterly earnings, and TikTok gains more influence

by Loud Silence Staff
May 5, 2020
Next Post

Rebecca Foundation Presents Relief Boxes To Greater Kumasi

Recommended

Shock as Bulls CEO steps down

Shock as Bulls CEO steps down

April 24, 2020

My Husband might be an Idiot but I’m a Proud Wife: Gifty Osei indirectly assert

August 14, 2021

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50
News

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50

March 7, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting “Ayansafuo Mo Wo hin” when One Government is in Power and go Mute when the other government comes into Power

February 25, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power

February 25, 2023
I deserve a national award for selling Ghana’s drill ship – KT Hammond
Ghana News

I deserve a national award for selling Ghana’s drill ship – KT Hammond

February 21, 2023
13 NPP NATIONAL SECURITY BOYS NABBED
Ghana News

13 NPP NATIONAL SECURITY BOYS NABBED

February 18, 2023
Who’s Gabby, I don’t have time for things like Him, He’s not Important to Me- Sophia Akuffo
Ghana News

Who’s Gabby, I don’t have time for things like Him, He’s not Important to Me- Sophia Akuffo

February 14, 2023

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.