The gross domestic product of the United States will drop this year by 6.5% under the effect of the Covid-19 pandemic. But the US economy is expected to rebound by 5% next year, according to new estimates from the US Central Bank.
The Fed also expects an unemployment rate of 9.3% in 2020 and 6.5% in 2021. It also left its interest rates unchanged, in a range between 0 and 0.25%. It expects to maintain this level until the economy has recovered from the crisis.
The institution says it will continue to use its tools and ‘will do the right thing to support the economy’.
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