Fed's Bostic speaking on the economy

Atlanta Fed Pres. Bostic

• Fed's Bostic worries about people leaving the workforce including women and those in service industries
• relief his needed to try to minimize a shock from the Covid
• we should definitely look to minimize the shock as long as we can
• it's important not to waive the flags of success to soon. There is still a lot of uncertainty
• as long as there is stress there needs to be relief to accompany that stress
• GDP has recovered a faster way than employment
• could see GDP back to pre-pandemic levels by the 4th quarter
• Employment is rebounding at a much slower pace
• Businesses are reluctant to hire people because of uncertainty
• it'll take a while for employment to move back toward pre-pandemic level
• PPP (payroll protection program) has been very successful for small businesses
• evidence suggest the Fed should not be worried about inflation too much