NY Fed President Warns Economy Remains in 'Deep Hole'

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NY Fed President Warns Economy Remains in 'Deep Hole'

MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.

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NY Fed President Warns Economy Remains in 'Deep Hole'

Friday, Nov 13 2020

Written by Chris Frankie

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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.”