Fed’s Bostic Warns COVID-19 Delta Variant Might Slow Recovery

President of the Federal Reserve Bank of Atlanta, Raphael Bostic, has warned that a new wave of the coronavirus pandemic with the Delta variant might hinder or slow the economic recovery, with an impact on consumer demand.

“If we see spikes in infections that will likely mean that people are going to pull back from engaging in the economy and our recovery is going to be a lot smaller.”

Bostic believes the tapering of asset purchases would be gradual when it begins at the right time.