Economy

Fed’s Daly calls for more fiscal help to get the economy out of a ‘big ditch’

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The U.S. economy needs more help from the fiscal side to recover from the ongoing impact of the coronavirus pandemic, San Francisco Federal Reserve President Mary Daly said Wednesday.

With the White House and congressional leadership still trying to work out details of an aid package, Daly likened the rescue funding so far to a bridge that has helped growth recover somewhat but still needs to be extended.

“We are not out of those woods yet, so we need a longer bridge,” the central bank official said on CNBC’s “Closing Bell.” “Along with what the Federal Reserve has done, we need the fiscal agents to offer support to parts of the economy that have yet to recover, the millions of Americans…



Source cnbc.com

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