Fed's Bostic Says U.S. May Not Get Back to Pre-Crisis Levels Until 2022

The video discusses the recovery phase from a crisis, highlighting the challenges and uneven progress across different communities. It explains that while some economic growth is expected by the end of the year, full recovery to pre-crisis levels may not occur until mid-2021 or later. The recovery pace will vary by community, with some areas taking longer to rebound. A survey of lower and moderate-income communities indicates that many do not expect recovery within a year, emphasizing the need for sustained support and attention.

What is one of the main challenges during the recovery phase as discussed in the video?

• Reducing the number of international flights

• Increasing the number of healthcare facilities

• Learning how to do business while minimizing infection risks

• Finding a vaccine for the virus

By the end of the year, what is the expected economic condition according to the video?

• The economy will surpass pre-crisis levels

• There will be more jobs and growth, but not at pre-crisis levels

• The economy will remain stagnant

• There will be a significant economic decline

When is the economy expected to reach pre-crisis levels?

• Mid-2021 or later

• By the end of 2020

• By the end of 2022

• Early 2021

What is a significant factor affecting the pace of recovery across different communities?

• The level of government intervention

• The number of healthcare workers

• The initial impact of the virus in those areas

• The availability of vaccines

What is a key consideration for supporting recovery in lower and moderate-income communities?

• Reducing taxes for businesses

• Ensuring continued focus and support over time

• Providing more entertainment options

• Increasing the number of shopping malls