Economics
Fed’s Brainard Urges More Fiscal Aid in Dark Warning on Outlook
- Fed governor paints bleak picture of limping economic recovery
- Brainard: recovery remains highly uncertain and highly uneven
This article is for subscribers only.
Federal Reserve Governor Lael Brainard said a failure by Congress to reach an agreement on further support for the economy is the biggest risk to the outlook aside from the coronavirus itself.
“Premature withdrawal of fiscal support would risk allowing recessionary dynamics to become entrenched, holding back employment and spending,” said Brainard, viewed as a possible pick for Treasury secretary if Democratic presidential nominee Joe Biden defeats President Donald Trump next month.