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Central bank chiefs upbeat on vaccine boost to global economy

Powell, Lagarde and Bailey see less uncertainty but want continued support for recovery

European Central Bank President Christine Lagarde attends the ECB forum on Nov. 12 with Federal Reserve Chair Jerome Powell, bottom right, and Bank of England Gov. Andrew Bailey, top right. (Photo courtesy of ECB)

FRANKFURT, Germany/LONDON (Financial Times) -- Three of the world's top central bankers predicted the breakthrough on a coronavirus vaccine would lift the uncertainty weighing on the global economy, while calling for more short-term public support to bridge the gap to a recovery.

Jay Powell, chair of the U.S. Federal Reserve, said this week's vaccine breakthrough was "certainly good and welcome news for the medium term". But he warned that "significant challenges and uncertainties remain" on its timing, production, distribution and efficacy.

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