Fed's Bullard: Not reasonable to make second virus wave a baseline outlook for U.S. economy
|09/24/2020 | 02:11pm|
It is unreasonable to expect a second wave of coronavirus infections to push the U.S. recovery off track given the steady progress in tamping down deaths from the pandemic, St. Louis Fed President James Bullard said on Thursday.
Saying he wanted to "push back" on forecasts of a slowing recovery and a resurgent virus, Bullard noted the fatality rates were "unlikely to reach the level of March and April" because of improving treatment and more vigilance among high risk individuals in protecting themselves.
That, he argues, will allow the economic recovery to continue.
(Reporting by Howard Schneider; Editing by Chris Reese)