Fed's Evans: More resources will be needed to support the economy

"It seems like more resources will be needed to support the economy, Chicago Fed President Charles Evans said on Tuesday, per Reuters. Evans reiterated that he is expecting the economy to recover in the second half but added that there was a risk of a delay.

Additional takeaways

"Under the best-case scenario, the US, the global economy will be less prosperous coming out of this crisis than going into it."

"Unlike the 2007-2009 financial crisis, the solution to this crisis is shutting down the economy for a short time."

"There's a hopeful possibility that this will be a very sharp, but short, downturn."

"If we try to reopen businesses too soon, we may see a more prolonged downturn."

Market reaction

Wall Street's main indexes continue to push higher on Tuesday. As of writing, the Nasdaq Composite was up 3.85% on the day and the S&P 500 was adding 2.7%.