NEW YORK (Reuters) – Cleveland Federal Reserve Bank President Loretta Mester said economic activity could pick up in the third quarter as businesses begin to reopen, but she cautioned the recovery is likely to be slow as consumers and businesses take precautions to limit coronavirus infections.
“The recovery could be slow,” Mester said Friday during an interview with Bloomberg TV. “When we have so many people out of work it’s hard to imagine that we see a quick V-shaped recovery.”
(Reporting by Jonnelle Marte, Editing by Franklin Paul)
