NEW YORK (Reuters) – The U.S. economy could reach a bottom in May or June and see a strong recovery in the second half of the year, New York Federal Reserve Bank President John Williams said Wednesday, adding that there is a lot of uncertainty in the forecast and that the central bank is considering a range of scenarios.
“Let’s just not forget this is an extreme decline in economic activity and an enormous hardship for people in this country,” Williams said during an interview with Bloomberg TV. “So even if we’re starting to see perhaps you know, stabilization there in terms of the economy and maybe a little bit of a pickup, we’re still in a very difficult situation.”
(Reporting by Jonnelle Marte; Editing by Chizu Nomiyama)
