Economy

Fed’s Esther George sees risks building of double-dip recession

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Kansas City Federal Reserve President Esther George said the recession that began in February could revisit the economy if the coronavirus pandemic intensifies.

“An important risk to that outlook is thinking about what happens as we come into the fall, whether we see any resurgence in the virus that would cause an additional pullback in the economy,” the central bank official told CNBC in an interview aired Wednesday on CNBC’s “Squawk Box.” “We’ll monitor that carefully to see whether that plays out.”

However, she said the baseline is “we will continue to see the economy improve,” and she did not commit to any further policy actions from the Fed, which already has cut short-term borrowing…



Source cnbc.com

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