Lagarde warns economy could face 'bumpy' recovery

European Central Bank he Christine Lagarde warned Wednesday that ecomy could face a "bumpy," "stop-start" recovery despite good news about vaccine development.

top central banker for 19 EU countries that use Euro currency said re was a risk that fearful consumers could drag out rebound, and that governments and central banks will need policies that bridge gap until vaccination is widespre.

She also said recovery "may t be linear, but rar unstey."

Stock markets jumped after Pfizer said Monday that early results from tests of its experimental vaccine suggesed it could be 90% effective at preventing COVID-19.

European Commission has said it plans to secure up to 300 million doses of drug developed by Pfizer and BioNTech.

Several experimental COVID-19 vaccines are in late st testing, but ne have so far been proven safe and effective eugh to use broly.