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Slowdown to continue as states announce more curbs: Fed official

Consumer spending is likely to say low relative to the past as people avoid activities that require high levels of social interaction for health reasons, Rosengren said

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2 min read Last Updated : Aug 12 2020 | 9:53 PM IST

The slowdown in economic activity is likely to continue as states put more restrictions in place to control the virus, and the momentum to return to full employment could fade as consumers remain cautious, Boston Federal Reserve President Eric Rosengren said Wednesday.

Consumer spending is likely to say low relative to the past as people avoid activities that require high levels of social interaction for health reasons, Rosengren said.

"The forecast for the US economy this fall is quite uncertain, but my view is that the recent slowdown in economic activity that we have seen in high frequency data is

Topics : Coronavirus Lockdown Fed policymakers US Federal Reserve US economy

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