Federal Reserve officials raised fresh doubts on Wednesday about the durability of the U.S. recovery, while new business surveys highlighted developing risks from the relentless coronavirus pandemic.
FILE PHOTO: Residents wait in line for free groceries from a pop-up food pantry amid the coronavirus disease outbreak in Chelsea, Massachusetts, U.S., May 19, 2020. REUTERS/Brian Snyder
But, “new orders are not coming on line in the same way. We have fiscal payments ... that are coming to an end and it is not clear what is going to replace them.” Enhanced unemployment benefits that have proved key to replacing spendable income amid record setting unemployment are due to expire this month.
Bostic told the Rotary Club of Columbus, Georgia, he was concerned not so much that states in his southern region had tried to reopen too fast, but without due care about how to manage the riskiest activities.
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