Fed’s Daly says not yet time to stimulate economy aggressively

The U.S. economy is likely to slow and perhaps even stall in coming months amid the surge in coronavirus cases, San Francisco Federal Reserve Bank President Mary Daly said on Tuesday, but the central bank should not respond, as it typically does to slowdowns, by pulling out more stops. “It is not the time to stimulate the economy aggressively and get people out in the economy because that would be unsafe,” Daly told reporters on a call after a talk at Arizona State University, held virtually. “I judge policy as in a good place.” Daly’s view, if shared by her colleagues, suggests the Fed is likely to stand … (full story)

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