<p><span>It is a pleasure to join the Economic Club of New York for this discussion.</span><a href="https://www.federalreserve.gov/newsevents/speech/brainard20210601a.htm#fn1" title="footnote 1"><span>1</span></a><a name="f1"></a><span> Consumer demand is strong, vaccine coverage is expanding, and pandemic-affected sectors are reopening in fits and starts. As was the pandemic shutdown with its ebbs and flows, the reopening is without precedent, and it is generating supply–demand mismatches at the sectoral level that are temporary in nature. Separating signal from noise in the high-frequency data may be challenging for a stretch. The supply–demand mismatches at the sectoral level are making it difficult to precisely assess inflationary developments and the amount of resource slack from month to month.</span></p>
<p><span>Thank you, David, and thank you to Brookings and the Hutchins Center for the opportunity to lead things off and be part of this very distinguished panel. Today, I will explain why I expect the U.S. economy to continue growing strongly over the remainder of this year and what the implications of that outlook are for monetary policy.</span></p>
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U.S. households reported sharply different economic experiences in 2020 as pandemic lockdowns threw workers out of jobs and left many less financially secure, a Federal Reserve report on household economic well-being released Monday showed.
“A clear pattern from the survey is that financial challenges in 2020 were uneven, and frequently left those who entered the year with fewer resources further behind,” according to the Fed’s annual Economic Well-Being of U.S. Households report.
The divergences arose even as Congress and the White House rolled out an enormous spending response meant to keep families financially afloat during a trying period. The data provide evidence that those programs helped but they did not totally ameliorate the damage for vulnerable households.
Federal Reserve Board Issues Report On The Economic Well-Being Of U.S. Households Date
17/05/2021
In the fourth quarter of 2020, nearly one-fourth of adults said that they were worse off financially compared to a year earlier, reflecting the economic fallout and distress resulting from the global COVID-19 pandemic. The Federal Reserve Board s report,
Economic Well-Being of U.S. Households in 2020, which was released on Monday, found a larger share of adults were worse off in 2020 than in previous years of the survey. This change occurred broadly across the population, but not all groups fared similarly.
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Retailers, Restaurants and Theme Parks Lift Mask Rules: Live Updates
RIGHT NOW
Source: Factset
Starbucks has announced that masks will be optional for vaccinated customers as of Monday, unless local regulations require them.Credit.Eze Amos for The New York Times
Target on Monday joined a growing list of retailers, restaurants and theme parks that will allow fully vaccinated customers to go mask free, following new coronavirus safety guidance from the federal government last week that said vaccinated people rarely transmit the virus.
The Centers for Disease Control and Prevention on Thursday took many businesses by surprise when it said that people who are vaccinated could go maskless in most places, including indoors. For businesses, the announcement was complicated by the fact that C.D.C. guidance does not override state and local rules. But several major companies have already moved to relax mask requirements. Businesses for the most part have not said they would require custo