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Fed's Evans says he's 'optimistic' about recovery

Kitco News

(Reuters) - As more people get vaccinated and coronavirus infections come down, Chicago Federal Reserve Bank President Charles Evans on Wednesday said he is optimistic about the economic outlook and expects a "strong" rebound this year.

Unemployment, now at 6.3%, will likely fall to closer to 5% by the end of the year, he said. But that overall rate masks millions on the sidelines, which if taken into account would give the current unemployment rate a read of 9% or higher, he said.

Reporting by Ann Saphir

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