Fed's Harker: 2021 will be a growth year with GDP and employment picking up

Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday he expects 2020 to show a sharp recession. Harket further noted that 2021 will be a growth year with GDP and employment picking.

"Growth seen next year may not be enough to return the economy to levels seen at the beginning of this year," Harker added. "Some of the jobs lost because of the COVID-19 crisis may never return."

Market reaction

The US Dollar Index largely ignored these comments and was last seen gaining 0.39% on the day at 97.00.