BENGALURU - Atlanta Federal Reserve Bank president Raphael Bostic said the US economic recovery is in danger of stalling due to the recent spike in coronavirus cases across many American states.
High-frequency data had shown a"levelling off" of economic activity both in terms of business openings and mobility, he told the Financial Times newspaper in an interview published on Tuesday . "There are a couple of things that we are seeing and some of them are troubling and might suggest that the trajectory of this recovery is going to be a bit bumpier than it might otherwise," he told the newspaper.California, Texas and Florida are all among two dozen US states reporting high infection rates as a percentage of diagnostic tests conducted over the past week, an alarming sign of a virus still spreading largely unchecked throughout much of the country.
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