Fed’s Bostic: Infection spike due to Delta variant could slow recovery

President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin
FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne

July 7, 2021

WASHINGTON (Reuters) – A new rise in coronavirus infections driven by the more virulent Delta variant could cause consumers to “pull back” and slow the U.S. recovery, Atlanta Federal Reserve President Raphael Bostic said, adding trends in some parts of the country were “troubling.”

“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 said at a virtual event hosted by the National Association of Black Journalists’ Business Journalism Task Force.

(Reporting by Howard Schneider; Editing by Chris Reese)