Fed's Bostic: Temporary job losses are now becoming permanent

Temporary job losses that were seen at the beginning of the pandemic are now becoming permanent, Atlanta Fed President Raphael Bostic said on Tuesday, as reported by Reuters.

"The recovery has been the weakest for black workers," Bostic added.

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 was down 0.4% on a daily basis at 3,617 and the Dow Jones Industrial Average was losing 0.55% at 29,788. Meanwhile, the US Dollar Index remains on track to close in the negative territory near 92.40.