10/19/2020, 8:29 PM (Source: TeleTrader)
more TeleTrader news

Fed's Bostic: Widespread job losses risk to economy

United States Federal Reserve Bank of Atlanta President Raphael Bostic noted on Monday the "widespread" and "permanent" job losses represent a risk to the country's economy amid the crisis caused by the coronavirus pandemic, which may not return to its previous market levels before the end of 2021.

Still, he expressed his optimism with the current fiscal policies, introduced to combat the financial downturn, and stressed it would be "some time" before the Fed raises rates and removes its support schemes.

Lastly, Bostic once again warned of an uneven economic rebound, noting the pandemic is influencing different sectors in disparate manners.

Breaking the News / JR