Fed's Bostic: Recovery may be delayed in areas where virus peaks later

WASHINGTON (Apr 15) - The U.S. economy may start growing again this summer but recovery could be delayed in places where the virus peaks later or that were slower to address the developing health crisis, Atlanta Federal Reserve president Raphael Bostic said on Tuesday.

In his southern U.S. district, “there is a fair amount of variation in terms of how stringent the lock downs have been,” Bostic said in an interview with Yahoo Finance. “I am trying to look at all the markets in my district to understand better what that trajectory is going to look like and whether the peaks are going to come sooner so that we can get to the end of this sooner. If that gets extended in some parts we may have to wait longer.”

Reuters