Mary Daly is President of the Federal Reserve Bank of San Francisco
Spoke earlier:
More now:
- says lapse of extended unemployment benefits creates "a hole" in consumer demand and spending
- says it wouldn't surprise her if data in fall suggests parents leaving labor force because of difficulties finding child care
- says forward guidance can make some of the Fed's tools more effective by sending a clearer message to public
- says congress will need to build a "bridge" now that dealing with coronavirus longer than had hoped
- says some sectors will not fully recover to pre-crisis levels
- Fed's says economic growth will be slower if there are not policies to help unemployed train for new jobs in growing sectors
- says she expects that bankruptcies and insolvencies will rise in the fall
- says the main street program is vital part of support fed offering to economy and outreach and feedback should boost participation
Headlines via Reuters
Daly is President of the Federal Reserve Bank of San Francisco
