NY Fed President Warns Economy Remains in 'Deep Hole'

Home
Lending
NY Fed President Warns Economy Remains in 'Deep Hole'

Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.

Estimated reading time: 0 minutes, 33 seconds

NY Fed President Warns Economy Remains in 'Deep Hole'

Friday, Nov 13 2020

Written by Chris Frankie

font size decrease font size increase font size
Print
Email

While the U.S. economy is on an upward path, it remains in a “deep hole” and could be hobbled by an uptick in COVID-19 cases, according to New York Federal Reserve Bank President John Williams. So reports Reuters.

-more-->“The very large rise in COVID cases recently clearly puts a question market on the ability of the economy to weather this period,” Williams told an interviewer. “I would expect the growth in the fourth quarter, and maybe into early next year to slow somewhat.”