Fed's Bowman: Progress toward full recovery to be slow, uneven

The coronavirus outbreak continues to weigh heavily on the US economy and the progress toward a full recovery is expected to be slow and uneven,  Federal Reserve Governor Michelle Bowman said on Wednesday.

Additional takeaways

"Economy has bounced back noticeably in recent months but it's far from back to normal."

"Timing, the severity of pandemic's effects differ greatly by area."

"Stimulus checks, enhanced jobless benefits have been a substantial source of support."

"The Fed will continue to monitor progress, respond promptly and flexibly to support recovery."

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.15% on the day at 92.88.