Fed's Rosengren expects slow economic recovery

EPA-EFE/JOHN CETRINO

Boston Federal Reserve President Eric Rosengren said at the Boston Chamber of Commerce on Wednesday that the economic recovery may slow in the coming months if there is a new spike in coronavirus cases.

"I am concerned that a second wave of COVID-19 infections this fall and winter is likely, which could cause some states to impose new restrictions on mobility and face-to-face interactions," Rosengren explained and added that monetary and fiscal policies need to be very adjustable before the coronavirus vaccine is widely distributed.

However, Boston's Fed representative noted he hopes that his "less optimistic" predictions won't come true.

Baha Breaking News (BBN) / AM