Fed official sees U.S. recession in 2021 if reopening economy too quickly
WASHINGTON, May 7 (Xinhua) -- A senior U.S. Federal Reserve official warned on Thursday that the United States could fall into recession again in 2021 if reopening the economy too quickly with a resurgence of the coronavirus.
"The less optimistic scenario is that we open too quickly and see a significant second wave of the virus. Not only would this be a health catastrophe, but it would reverse the recovery as well," Philadelphia Federal Reserve Bank President Patrick Harker told the Chicago Council on Global Affairs via Zoom.