Fed's Rosengren: Economic rebound in H2 of 2020 could be slowed by continued spread of virus

The US' economic rebound in the second half of the year could be slowed by the continued spread of the novel coronavirus, Boston Federal Reserve President Eric Rosengren said on Friday.

Additional takeaways

"More support likely needed from monetary and fiscal policy."

"Unemployment rate in the US expected to be in double digits at the end of 2020."

"US inflation is likely to remain below the Fed's 2% target."

"Hispanic and African-American workers were disproportionately impacted by recent job losses."

"The Fed is seeing a steady stream of interest in the Main Street Lending Program."

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.15% on the day at 97.30.