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8/3, 8:39 PM (Source: TeleTrader)
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US will experience 'rapid' recovery in Q3 - Fed's Bullard

President of the St. Louis Federal Reserve Bank James Bullard stated on Monday the United States will likely have a "rapid" third quarter.

The official said he expects some businesses may recall workers on temporary layoffs, with the economy "building on the successes" of May and June.

Bullard, who earlier today warned that the coronavirus seems to be "more persistent" than initially thought, added that widespread mask use would help bring down the number of COVID-19 cases to a "manageable" level and in turn help economic recovery.

Breaking the News / MD