Atlanta Fed President Raphael Bostic told CNBC, “we have short-term and immediate-term concerns with the spike in the virus and what that is going to do in terms of businesses and the things that they are able to produce, in terms of consumers in terms of their willingness to go out and buy things”.
On the other hand, “the vaccine is definitely positive news and it will definitely lead to a pretty robust recovery once it gets into the population deep enough.”
As for next FOMC meeting on December 15-16, Bostic said, “we are going to be paying really close attention to the numbers moving forward to see whether this weakness in retail sales translates into something more deep.”
