NY Fed’s Williams says rapid increase in virus infections could hurt economy

FILE PHOTO: John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York in the Manhattan borough of New York, U.S., March 6, 2019. REUTERS/Lucas Jackson/File Photo

(Reuters) – The economy is now affected more by swings in coronavirus infections than it is by restrictions on certain activities, and a surge in infections could slow growth, New York Federal Reserve Bank President John Williams said on Wednesday.

“If COVID spreads rapidly that’s going to hurt the economy,” Williams said during a virtual event organized by the Society for Advancing Business Editing and Writing.

Reporting by Jonnelle Marte; Editing by Chris Reese

source: reuters.com

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