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The Fed: Fed’s Daly warns this year’s strong economic growth won’t last forever

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The U.S. economy is going to enjoy a big rebound later this year as more Americans are vaccinated, but investors shouldn’t assume the good news will last forever, said San Francisco Fed President Mary Daly on Thursday.

“We’re going to see a big rebound in the economy in the second half of this year,” Daly said, in a webinar with the Money Marketeers of New York University.

But “the big caution” Daly said, was that “everybody should not get too excited when we see a sequence of good numbers.”

After the strong growth, the U.S. economy is “likely to moderate somewhat,” Daly said.

The economy is going to experience a kind of temporary rebound as more Americans feel comfortable going out in public, like the economy experienced last summer.

“And then the hard work will begin,” she added.

U.S. stocks
DJIA,
+0.79%

SPX,
+0.94%

were in record territory on Thursday as economic data released earlier in the morning was strong across the board.

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