Economics
Rocky Recovery to Keep U.S. Unemployment High, Fed’s Bostic Says
- ‘Not anticipating this will be a smooth, straight line up’
- Atlanta leader intrigued with targeting Black jobless rate
Raphael Bostic
Photographer: Elijah Nouvelage/BloombergThis article is for subscribers only.
Federal Reserve Bank of Atlanta President Raphael Bostic said he expects U.S. unemployment will be around 10% in the fourth quarter, with an uneven recovery from the Covid-19-induced recession.
“We are going to see sort of some bumps on our journey through recovery,” Bostic said in a telephone interview, noting that the downturn especially is hurting minorities and low-income workers.