Fed’s Mester says it’s hard to imagine quick V-shaped recovery

Fed’s Mester says it’s hard to imagine quick V-shaped recovery

© Reuters. FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester speaks in London

NEW YORK (Reuters) – Cleveland Federal Reserve Bank President Loretta Mester said economic activity could pick up in the third quarter as businesses begin to reopen, but she cautioned the recovery is likely to be slow as consumers and businesses take precautions to limit coronavirus infections.

“The recovery could be slow,” Mester said Friday during an interview with Bloomberg TV. “When we have so many people out of work it’s hard to imagine that we see a quick V-shaped recovery.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest Category Posts