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Recovery Could Take 4 Years If Virus Contained, Fed’s Daly Says

Mary Daly

Mary Daly

Photographer: David Paul Morris/Bloomberg

The U.S. economy can escape another decade-long slog back to health if strong public measures or a vaccine curb virus surges, Federal Reserve Bank of San Francisco President Mary Daly said.

“If we can get the public health issues under control either through a really robust mitigation strategy or a vaccine, then we can reengage in economic activity really quickly,” Daly said Wednesday in a virtual Washington Post Live event. “Then it could take just four years or five years. But if we end up with a pervasive, long lasting hit to the economy, then it could take longer.”