WASHINGTON, Jan. 7 (Xinhua) -- The U.S. economy will likely experience a significant slowdown or even a contraction in the first quarter of 2021, a senior Federal Reserve official said Thursday.
"On the national level, for now, I'm expecting the fourth quarter of last year to show modest growth, before a significant slowing in the first quarter of this year - possibly even negative growth," Philadelphia Federal Reserve Bank President Patrick Harker said at a virtual event held by the Philadelphia Business Journal.