FOREX TradingCharts.com

Financial News: Fed's Bostic Warns US Recovery May Be Stalling:

Fed's Bostic Warns US Recovery May Be Stalling: FT

07/07/2020 - 01:20:00 (RTTNews)

(RTTNews) - US economic recovery may be "leveling off" as activity could be dampened amid a recent surge in coronavirus infections, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said in an interview to the Financial Times.

Bostic cited high-frequency data that signaled that the economic activity may be stalling both in terms of business reopenings and mobility, the interview published on the FT website on Tuesday said.

"There are a couple of things that we are seeing and some of them are troubling and might suggest that the trajectory of this recovery is going to be a bit bumpier than it might otherwise," Bostic told FT.

The Fed is watching the trends very closely to understand exactly what's happening, he added.

On Monday, analysts at Goldman Sachs projected that the US economy is set to shrink at a faster rate this year than expected earlier. They expect the economy to be back on track in September.

Analysts at the investment bank said the healthy rebound in consumer services spending seen since mid-April appears likely to stall in July and August as authorities impose further restrictions to contain the Covid-19 spread.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Producer Prices Climb 0.6% In July, Much More Than Expected (06 hr(s), 14 min(s), 23 sec(s) ago)
(RTTNews) - Partly reflecting a notable increase in prices for services, the Labor Department rele ...Full Story»

India Industrial Production Falls For Fourth Month (06 hr(s), 35 min(s), 23 sec(s) ago)
(RTTNews) - India's industrial production fell for a fourth consecutive month in June, albeit ...Full Story»

U.S. Producer Prices Climb More Than Expected In July (06 hr(s), 54 min(s), 23 sec(s) ago)
(RTTNews) - Partly reflecting a notable increase in prices for services, the Labor Department rele ...Full Story»

China's Bank Lending Declines In July (07 hr(s), 10 min(s), 23 sec(s) ago)
(RTTNews) - China's bank lending declined more-than-expected in July, data from the People' ...Full Story»

German ZEW Economic Confidence Strengthens Unexpectedly (08 hr(s), 19 min(s), 23 sec(s) ago)
(RTTNews) - Germany's economic confidence improved unexpectedly in August on hopes of a speedy ...Full Story»

South Africa Manufacturing Output Decline Slows In June (08 hr(s), 20 min(s), 23 sec(s) ago)
(RTTNews) - South Africa's manufacturing output declined at a softer pace in June as the Covid ...Full Story»

Japan Eco Watchers Current Conditions Improves; Outlook Falls (08 hr(s), 34 min(s), 23 sec(s) ago)
(RTTNews) - A measure of the public assessment of the Japanese economy rose for the third month in ...Full Story»

Latvia Trade Deficit Narrows In June (08 hr(s), 36 min(s), 23 sec(s) ago)
(RTTNews) - Latvia's trade deficit narrowed in June amid a fall in both the exports and import ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Producer Prices Climb 0.6% In July, Much More Than Expected

08/11/2020 - 09:17 AM (RTTNews)
(RTTNews) - Partly reflecting a notable increase in prices for services, the Labor Department rele ...Full Story>>

India Industrial Production Falls For Fourth Month

08/11/2020 - 08:56 AM (RTTNews)
(RTTNews) - India's industrial production fell for a fourth consecutive month in June, albeit ...Full Story>>

U.S. Producer Prices Climb More Than Expected In July

08/11/2020 - 08:37 AM (RTTNews)
(RTTNews) - Partly reflecting a notable increase in prices for services, the Labor Department rele ...Full Story>>

China's Bank Lending Declines In July

08/11/2020 - 08:21 AM (RTTNews)
(RTTNews) - China's bank lending declined more-than-expected in July, data from the People' ...Full Story>>

German ZEW Economic Confidence Strengthens Unexpectedly

08/11/2020 - 07:12 AM (RTTNews)
(RTTNews) - Germany's economic confidence improved unexpectedly in August on hopes of a speedy ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.