(Reuters) – St. Louis Federal Reserve President James Bullard on Tuesday predicted fast growth for the U.S. this year after a massive fiscal and monetary policy response to the pandemic helped bolster households and prevent a financial crisis, and now that vaccines are reducing infections.
“Right now it is looking good; I think we are coming to the end of the war here, and hopefully we’ll get to a point, at least in the U.S., where the pandemic will be behind us,” he said, projecting U.S. GDP to grow 6.5% this year, unemployment to fall to 4.5% and inflation to rise to 2.5%.
“I’d like to see actual data come in that verifies this forecast and verifies the idea that it’s going to be a very strong year for the U.S. economy.”
Reporting by Ann Saphir and Saqib Ahmed; Editing by Chris Reese