Fed's Bostic: Recovery may be delayed in areas where virus peaks later

The Federal Reserve's programs have a timetable, the balance sheet will naturally get smaller as programs end and the economy grows, Atlanta Fed President Raphael Bostic told Yahoo Finance on Tuesday.

Key takeaways

"Confident help will reach businesses on time, but likely more is needed for small business, local government, gig economy workers."

"Dealing with costs of crisis will be more manageable with renewed growth."

"Recovery may be delayed in areas where virus peaks later."

"Job reports and claims data are not providing a lot of real information at this point."

Market reaction

The US Dollar Index largely ignored these comments and was last seen erasing 0.55% on a daily basis at 98.95.