The U.S. economy could be fully recovered from the effects of the financial crisis and recession as early as next year, a top Federal Reserve official said, flagging the possibility the U.S. central bank will need to raise interest rates sometime soon.
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Minneapolis Federal Reserve Bank President Narayana Kocherlakota said Thursday that the U.S. central bank can do more to help Americans struggling with unemployment or under-employment.
Automation and increasingly sophisticated computers have boosted demand for both highly educated and low-skilled workers around the globe, while eroding demand for middle-skilled jobs, according to research to be presented to global central bankers on Friday.
The Federal Reserve could continue full-speed ahead on its bond-buying program through the summer, but end it abruptly in the autumn if by then it is confident that the improvement in the jobs outlook is here to stay, a top Fed official said on Monday.
