Economics
Fed’s Daly Says U.S. Needs Longer Bridge of Support for Economy
- Virus resurgence is weighing on growth as stimulus runs out
- Fed learned important full employment lesson in last recovery
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The U.S. economy needs more support than originally thought as a resurgence in the coronavirus pandemic weighs on growth, said Federal Reserve Bank of San Francisco President Mary Daly.
“It’s becoming quite clear that the virus will be with us for longer and more vigorously than anyone had hoped for,” Daly said in an interview Tuesday. “The length of the support that the economy is going to need, before we can ever stimulate the economy, it just has to be longer.”