Connect with us

Business

Atlanta Fed chairman ‘concerned’ about uneven economic recovery

Avatar

Published

on


Atlanta Federal Reserve Chairman Raphael Bostic said on Sunday he “feared” that the road to recovery from the coronavirus pandemic was uneven for different sectors of the U.S. economy.

Although Bostic acknowledged that the United States is “recovering and rebounding in a very robust fashion” in some areas, he warned that hotels, restaurants and small businesses in minority and low-income communities, in particular, “are experiencing much more difficult situations. “

“[The coronavirus] put a wedge in our economy. And for all those who have been in more precarious situations, it has made them even more precarious, “Bostic told CBS” Face the Nation. “Those who have been in distress are in much more distress, while d others don’t really feel it. at all. And I think it’s important to recognize that whatever people are going through, there are a lot of other Americans who are struggling and are on the edge. “

“These segments where we don’t see this recovery is really what concerns me as we move forward,” he added.

PELOSI SETS 48 HOURS TO REACH THE PROMOTION OF STIMULUS BEFORE ELECTION DAY

Bostic said he believes the Federal Reserve can support the black community and other minority communities struggling with racial inequality by being more willing to speak out about the situation.

“First of all, we have to recognize that there is a problem and we have to be prepared to talk about it,” Bostic said. “You know, my institution has not been willing for a long time to be forward to talk about the importance of racial inequalities. I actually think that’s a mistake. And what we see is that a lot more of my colleagues jump in and be ready to talk about it. “

In terms of political action, Bostic believes that the United States must create opportunities for better education and training and ensure that all Americans have access to capital and can participate in the economy.

AMERICAN ECONOMY, FEDERAL POLICY IN “ GOOD POSITION ”, SAYS DALY

Bostic is expected to be a voting member of the Federal Open Market Committee in 2021; the FOMC makes key decisions on interest rates and economic growth.

He previously served in the Obama administration from 2009 to 2012 as Assistant Secretary for Policy Development and Research in the Department of Housing and Urban Development, and would be considered Secretary of the Treasury or Chairman of the Federal Reserve in the administration of former Vice President Joe Biden. he wins the 2020 presidential election.

GET FOX BUSINESS ON THE ROAD BY CLICKING HERE

He deflected the question of whether he had considered the offer, however, arguing that he currently had other priorities to consider.

“I have a pandemic. I have an economic crisis, and I have to worry about my own bank in terms of the policies that we are implementing,” Bostic said. “So I’m going to let things unfold … as they will and we’ll just see how it goes.”

According to Last update by Johns Hopkins University, there are more than 8.1 million confirmed cases of the coronavirus and more than 219,000 related deaths in the United States.

CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]