Fed's Bullard: Recovery looks to have slowed in July, no smooth track ahead

(Reuters) - The U.S. economic recovery from the coronavirus recession likely slowed in July after surprising to the upside in May and June, and the trajectory from here is unlikely to be smooth, St. Louis Federal Reserve Bank President James Bullard said on Monday.

Reuters August 04, 2020 00:07:07 IST
Fed's Bullard: Recovery looks to have slowed in July, no smooth track ahead

Feds Bullard Recovery looks to have slowed in July no smooth track ahead

(Reuters) - The U.S. economic recovery from the coronavirus recession likely slowed in July after surprising to the upside in May and June, and the trajectory from here is unlikely to be smooth, St. Louis Federal Reserve Bank President James Bullard said on Monday.

Bullard, in a presentation during an online event hosted by the St. Louis Fed's Memphis, Tennessee, branch, said it appears as though the trough in economic activity occurred in April.

(Reporting by Jonnelle Marte; Writing by Dan Burns; Editing by Jonathan Oatis)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Gilead nears deal to buy Immunomedics for more than $20 billion, WSJ reports
Business

Gilead nears deal to buy Immunomedics for more than $20 billion, WSJ reports

(Reuters) - Gilead Sciences Inc is nearing a deal to buy biopharmaceutical company Immunomedics Inc for more than $20 billion, the Wall Street Journal reported on Saturday, citing people familiar with the matter. A deal for Immunomedics, which last month reported positive data from a late-stage study for its breast-cancer drug, could be announced Monday if not sooner, the Journal said https://www.wsj.com/articles/gilead-nears-deal-to-buy-immunomedics-for-more-than-20-billion-11599936777?mod=hp_lead_pos2. Gilead and Immunomedics did not respond immediately to emailed requests from Reuters for comment

China bans German pork imports after African swine fever case
Business

China bans German pork imports after African swine fever case

SHANGHAI (Reuters) - China banned pork imports from Germany on Saturday after it confirmed its first case of African swine fever last week, in a move set to hit German producers and push up global prices as China's meat supplies tighten. China's ban on imports from its third largest supplier comes as the world's top meat buyer deals with an unprecedented pork shortage after its own epidemic of the deadly hog disease. The ban on Germany, which has supplied about 14% of China's pork imports so far this year, will push up demand for meat from other major suppliers like the United States and Spain, boosting global prices.

Libya's Haftar committed to ending oil blockade, U.S. says
Business

Libya's Haftar committed to ending oil blockade, U.S. says

CAIRO (Reuters) - Libyan commander Khalifa Haftar has committed to ending a months-long blockade of oil facilities, the U.S.