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The economic recovery depends on how the US responds to the coronavirus outbreak if infections can be stabilizied, Atlanta Fed President Raphael Bostic said on Tuesday, per Reuters.

“It’s very hard to know the shape of the economic recovery,” Bostic further noted and argued that a “V-shaped” recovery will be very difficult to achieve in many areas of the country.

Market reaction

Wall Street’s main indexes largely ignored these comments and were last seen gaining between 1.6% and 2.2% on a daily basis.