Fed' Williams: Will see good improvements in economy as virus cases get lower

"We will see good improvements in the economy as virus cases get lower and more people are vaccinated," New York Federal Reserve President John Williams said on Wednesday, as reported by Reuters.

Williams further noted that the leisure and hospitality sectors got hit harder by the coronavirus pandemic and struggling to get back to normal. "I expect the pace to the recovery to be rapid later this year," he added.

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was up 0.29% on a daily basis at 3,921.