Fed's Bostic: Going to see a muted recovery - Not a big fan of negative rates

Fed's Raphael W. Bostic is crossing the wires via CNBC and has said that the US will see a muted recovery, adding the recovery has been a mixed bag in his district. He is no big fan of negative interest rates.

Key comments

We are going to see a muted recovery and recovery has been a mixed bag in his district.

There is so much uncertainty that it is hard to be definitive about any outcome.

Not a big fan of negative rates.

Concerned about flare-ups and consumer impact.

Says there is still relief money available.

Banks should be preserving as much capital as they possibly can.