⁍ Rosengren reiterated his view that the economy could take a hit in the fall and winter if coronavirus infections rise.
⁍ He said low to middle income consumers, small businesses and state and local governments need more support from fiscal aid to make it through the crisis.
– The US economy isn’t even close to full employment, and interest rates will stay low for a while to come, Boston Federal Reserve Bank President Eric Rosengren tells Yahoo Finance. “I’m very worried that we’re pretty far away from what we think is maximum employment and I think there are going to be significant headwinds to getting there quickly,” he says. “I think we’re going to have to deal with very low inflation for a long time to come,” he adds, per Reuters.
Source: https://www.reuters.com/article/us-usa-fed-rosengren/feds-rosengren-says-us-a-long-way-from-maximum-employment-and-2-inflation-target-idUSKCN26F2CU