June 25, 2020 / 4:15 PM / 15 days ago

Fed's Bostic: Even gradual second wave could force consumers back indoors

FILE PHOTO: Federal Reserve Bank of Atlanta President Raphael Bostic participates in a panel discussion at the American Economic Association/Allied Social Science Association (ASSA) 2019 meeting in Atlanta, Georgia, U.S., January 4, 2019. REUTERS/Christopher Aluka Berry/File Photo

(Reuters) - Even a gradually spreading second wave of the coronavirus could force consumers back indoors and undercut an economic recovery, Atlanta Federal Reserve bank president Raphael Bostic said on Thursday.

“If the potential of this is to cascade through, even if it is not everyone at once...people might just throw up their hands and say it is not worth it,” to venture back to normal commerce Bostic said in webcast remarks to the Florida. The state is dealing with a renewed rise in COVID-19 infections.

Reporting by Howard Schneider

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