- Atlanta Fed president Bostic: Overall depression less likely but worried about pockets, including low and moderate income communities, that may see even slower recovery
Market news
7 May 2020
Atlanta Fed president Bostic: Overall depression less likely but worried about pockets, including low and moderate income communities, that may see even slower recovery
- Fed to err on providing too much support, not too little
- Fed will deploy its full arsenal to aid U.S. economy
- Hopeful virus belief takes worst-case scenario off table
- Economic impact on opening in southern states has been mixed
- Cell phone data has suggested movement has not gone up appreciably though some retailers have seen stronger than expected traffic
- Will only no adequacy of municipal, other new programs when they fully open and demand can be assessed
- Not clear yet if looser opening rules in some states is making a difference in sales or other economic activity
- It remains an open question whether current stock market level will persist
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