Since February of this year, Covid-19 pandemic has made its way into the homes and businesses of Northeast Florida residents. Governor Ron Desantis and Mayor Lenny Curry are continuously providing news and reports on the city’s business reopening and next steps.
To discuss the pandemic and economic outlook in Jax, Federal Reserve Bank of Atlanta president and CEO Raphael Bostic spoke with JAXUSA Partnership President Aundra Wallace and Chamber members via zoom for an open dialogue on the hopeful outlook on the nation’s economic recovery during a JAXUSA Partnership webinar on May 20.
Bostic reiterated that the strong economic fundamentals in place pre-shutdown will allow for a more robust recovery than previous recessions. Strengthened by 11 years of continuous growth and no signs of runaway inflation or emerging risks, these fundamentals can be reserved to ensure that job losses are temporary rather than permanent.
Regarding the U.S. Southeast region’s recovery, Bostic points to the vibrant activity of “ideas, innovation and long traditions of hard work,” coupled with the diversified economy, which will be helpful in recovery efforts. This is especially true for the Jacksonville region’s diverse industry mix in which there are strong logistics, health care, insurance and fintech industries.
Shown on the webinar is Federal Reserve Bank of Atlanta President and CEO Raphael Bostic and Aundra Wallace, President JAXUSA Partnership.