Fed member: coronavirus recovery will be slow

13 Aug 2020 12:26 PM

US Federal Reserve member Daly indicated that the recovery of US economy will be slow and gradual in the coming period due to the outbreak of the Corona pandemic. His most prominent statements were as follows:

The Fed has been under severe pressure to meet its 2% inflation target.

There is little evidence that additional unemployment benefits prevent people from returning to work Some sectors will not fully recover to pre-crisis levels

I expect that economic growth will be slower if there are no policies to help the unemployed gain training for new jobs in developing sectors.

Congress will need to build a "bridge" now that it has dealt with the Coronavirus for longer than it had hoped


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