May 7, 2020 / 4:32 PM / in 22 days

Fed's Kashkari sees slow, rocky recovery ahead

SAN FRANCISCO, May 7 (Reuters) - A quick recovery from the coronavirus crisis is unlikely, Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday, warning that some businesses will be able to reopen sooner that others and that a resurgence in infections could necessitate a return to lockdown.

“Long term I am absolutely bullish... but it may be a rocky journey,” Kashkari said in an online discussion held by North Dakota’s department of commerce. “My recommendations for businesses... is to plan for a long journey.” (Reporting by Ann Saphir Editing by Chizu Nomiyama)

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