Fed's Bostic says U.S. recovery may be 'levelling off' - FT interview

(Reuters) - Atlanta Federal Reserve Bank President Raphael Bostic said the U.S. economic recovery is in danger of stalling due to the recent spike in coronavirus cases across many American states.

High-frequency data had shown a "levelling off" of economic activity both in terms of business openings and mobility, he told the Financial Times newspaper in an interview published on Tuesday.

"There are a couple of things that we are seeing and some of them are troubling and might suggest that the trajectory of this recovery is going to be a bit bumpier than it might otherwise," he told the newspaper https://on.ft.com/2VSiu9v.

"And so we're watching this very closely, trying to understand exactly what's happening."

California, Texas and Florida are all among two dozen U.S. states reporting high infection rates as a percentage of diagnostic tests conducted over the past week, an alarming sign of a virus still spreading largely unchecked throughout much of the country.

The U.S. death toll from the virus has topped 130,000, Reuters calculations show.

(Reporting by Kanishka Singh in Bengaluru; Editing by Shri Navaratnam)