- Boston Fed President Rosengren: I am concerned that pandemic will limit ability of economy to recover quickly
Market news
12 August 2020
Boston Fed President Rosengren: I am concerned that pandemic will limit ability of economy to recover quickly
- Lifting restrictions too quickly hurt both the economy and public health down the road
- Forecast for this fall is quite uncertain, but my view is that recent slowdown in economic activity is likely to continue
- With social distancing requirements, the momentum toward returning quickly to full employment is fading
- Looking at high-frequency data shows that spending has slowed where the virus has picked up
- There has been a steady increase in Main Street Lending program loans as businesses and banks become more familiar with it
- There are currently more than $856 million in active loans, with more than $250 million settled
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