Comments from the Boston Fed leader

  • With social distancing requirements, the momentum toward returning quickly to full employment is fading
  • Looking at high-frequency data shows that spending has slowed where the virus has picked up
  • There has been a steady increase in Main Street Lending program loans as businesses and banks become more familiar with it

Rosengren is possibly the most bearish cautious Fed member so dour comments from him are discounted. Later we hear from Daly and Kaplan.