July 8, 2020 / 5:53 PM / a month ago

Fed's Bostic: Pace of U.S. recovery may be leveling off

July 8 (Reuters) - The seemingly rapid rebound in the U.S. economy over May and June may be leveling off, Atlanta Fed president Raphael Bostic said on Wednesday, with real time indicators of business activity suggesting the renewed spread of the coronavirus is taking a toll.

“The energy for reopening businesses and for just general activity is starting to level off,” Bostic said. “This is something we are going to watch extremely closely.”

Reporting by Howard Schneider, Editing by Franklin Paul

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