Philadelphia Fed President Patrick Harker said monetary policy is going to “stay low until we really see the economy starting to recover back to our dual mandate”. Exactly how long that is a “function of how quickly medical science and industry can put in place the tools, the testing regimes, the vaccines etc. to keep the American public safe.”
But he warned, “the worst thing we can do in my mind is rush this” and have a “significant rebound… which would just set us back”.
