Jab drive leads to strong US rebound
The labour force participation rate has recovered somewhat over the past few months
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."..