The US economy will need stimulus and fiscal support for a long time, according to the head of the Federal Reserve Bank of New York, John Williams.
He said this in an interview with CNBC, noting that he does not support the view that the $1.9 trillion aid plan developed by the administration of President Joe Biden could warm up the economy too much.
In his opinion, the full recovery of the economy will require a fairly long period. Williams is also not concerned about the strong rise in ten-year Treasury yields, as he points only to rising optimism and confidence in the recovery of the US economy, as well as further keeping interest rates low.
The main objectives of the fed said Williams remains the achievement of full employment and the inflation target of 2%.