"The nation must reach a place where opportunity is not so tightly linked to race," Atlanta Fed President Raphael Bostic said of a K-shaped recovery.
The coronavirus’ rapid spread throughout several states could dramatically slow the US economic rebound, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said in a Tuesday web conference. The increase in infections is already driving fears that the US recession could last longer than first anticipated, he said. […]
A rolling GDP “nowcast” from the Federal Reserve Bank of Atlanta sees US growth shrinking 52.8% on the coronavirus’ economic fallout. The estimate is down from a May 29 projection of -51.9% growth and takes new data from the manufacturing and construction industries into account. Fed chair Jerome Powell said […]
Economists are lowering their fourth-quarter GDP expectations as holiday sales arrive lower than anticipated and utility use slows. Bank of America slashed its fourth-quarter growth estimate to 2% from 2.2%, while JPMorgan Chase dropped its expectation to 1.5% from 2%. The Federal Reserve Bank of Atlanta similarly pulled its projection […]