The US Federal Reserve said the widening vaccination programme against Covid helped the US economy stage a robust rebound, while pledging that monetary policy will continue to provide "powerful support".

"Progress on vaccinations has led to a reopening of the economy and strong economic growth, supported by accommodative monetary and fiscal policy," the central bank said on Friday in its twice-yearly monetary policy report to Congress. "However, the effects of the Covid-19 pandemic have continued to weigh on the US economy, and employment has remained well below pre-pandemic levels."..

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