Fed officials warn economic slowdown is coming, here’s why – By Brittany De Lea (FOX Business) / July 9 2020
Business activity and consumer spending may decline as coronavirus cases rise in some states
Recent economic data shows signs of acceleration in the U.S. economy, but Federal Reserve officials are cautioning that there may be a slowdown on the horizon as confirmed coronavirus cases rise in some U.S. states.
On Wednesday, Atlanta Fed President Raphael Bostic suggested that the U.S. recovery could be stalling – even after more than 7 million jobs were added between May and June.
Bostic told reporters that more recent data indicates “energy in terms of reopening for businesses and for just general activity is starting to level off,” as reported by The Wall Street Journal.
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