Fed’s Evans Says Intermittent Virus Outbreaks Will Slow Economy

Recurring coronavirus outbreaks will probably hold back U.S. economic growth and leave unemployment at elevated levels in the coming years, Federal Reserve Bank of Chicago President Charles Evans said.

“My forecast assumes growth is held back by the response to intermittent localized outbreaks -- which might be made worse by the faster-than-expected reopenings,” Evans said Wednesday in remarks prepared for a virtual event.