Atlanta Fed Pres. Bostic speaking with reporters via a conference call
- Err on providing too much support not too little
- hopeful virus belief takes worst case scenario off table
- economic impact on opening in southern states has been mixed
- cell phone data has suggested movement has not gone up appreciably though some retailers have seen stronger than expected traffic
- will only no adequacy of municipal, other new programs when they fully open and demand can be assessed
- not clear yet if looser opening rules in some states is making a difference in sales or other economic activity
- overall depression less likely but worried about pockets, including low and moderate income communities, that may see even slower recovery
Fed's Bostic has been active over the last few days.
