Atlanta Fed president Bostic warns of a 'bumpier' road ahead, and says the US economy's recovery is 'levelling off' as COVID-19 cases surge
surveyed by Bloomberg and represented the second straight month of job additions during the coronavirus induced recession.JPMORGAN: The coronavirus crisis has decimated one of the safest defenses against stock-market crashes. Here are 4 ways to pivot your portfolio now.
But the data used for the June jobs reported was likely compiled before an alarming number of COVID-19 cases hit states such as Texas, California, Arizona, to name a few. Bostic he was "trying to figure out whether this levelling off is something that is a more sustained pattern, or just a pause.
Bostic said his "biggest concern in this whole period ... is to what extent are business losses permanent, are job losses permanent?" "When the relief was passed initially, there was a thought about how long this was going to last, and as more information has come in, there's reason to suggest this is going to last longer than that," Bostic said.
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