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Fed’s Rosengren says U.S. labor markets could stagnate until vaccine is widely available

File Photo: The Federal Reserve Bank of Boston’s President and CEO Eric S. Rosengren speaks in New York, April 17, 2013. REUTERS/Keith Bedford/File Photo

(HeadlineNews) – The U.S. economy could face significant weakness over the next couple of months until coronavirus vaccines are widely distributed, but those vaccines, combined with the increased odds for fiscal stimulus under President-elect Joe Biden, could boost the economy in the long run, Boston Federal Reserve Bank President Eric Rosengren said on Wednesday.

“I’m expecting that the labor market is going to be stagnant for the next couple months until we have much more widespread vaccinations,” Rosengren said in an interview with HeadlineNews.

Reporting by Jonnelle Marte; editing by Diane Craft

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