Goldman Sachs stated in a report that the economic damage in the US due to COVID-19 was not as severe as originally expected.

According to some reports, the bankruptcy application cases in the US business are lower than the level before the epidemic, the vaccine is about to come out, and the further fiscal support next year can facilitate a faster economic recovery.

Nevertheless, the Federal Reserve Bank of Cleveland's president and CEO Loretta Mester and Philadelphia Fed President Patrick Harker said that despite the recent improvements in the labor market and economy, inflation and employment targets have not yet entered the ideal state.

Moreover, the US job market may not return to its pre-epidemic level until 2023. Sectors such as the tourism and hotel industry may remain sluggish for a long period of time.