US economy is by and large in good shape

The US economy is “by and large in a good shape” with extremely healthy consumption, housing and manufacturing, Philadelphia Federal Reserve Bank President Patrick Harker said on Thursday, as reported by Reuters.

“Employment remains down significantly, with nearly 7.6 million fewer people working than before the pandemic,” Harker further noted and added that the GDP has come roaring back after a record contraction during the first half of 2020.

Market reaction

These remarks were largely ignored by market participants and the US Dollar Index was last seen posting small daily losses at 91.72.

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