Fed's Rosengren speaking

  • Fiscal package that is being considered right now is appropriately big
  • Given disruptions in labor market, fiscal and monetary policy response should be aggressive
  • We can worry about fiscal sustainability issues once we get closer to full employment
  • There is time to pull back on policy if economy comes back faster than were expecting
  • He is hopeful recovery will be strong enough to reach full employment within 2 years
  • Path the full employment depends on what happens with the new virus variance and vaccine distribution.