Even if the coronavirus is contained relatively quickly, a large number of companies will have a difficult time surviving Boston Federal Reserve Chairman Eric Rosengren argued Tuesday, Reuters reported.
“We have seen many banks significantly toughen credit standards Rosengren added.The assumption that we would not have a second wave of viruses and that we would have fiscal policy were two wrong assumptions“.
Rosengren also noted that he is concerned that volatility cycles will worsen if financial stability is not taken seriously.
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Credits: Forex Street
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