San Francisco Fed President Mary Daly said she’s assuming “a slow grinding recovery persists until we have the virus fully behind us. And that’s “predicated on a vaccine that is widely available and distributed.”
At the same time, monetary policy is “in a good place”. “It is not the time to stimulate the economy aggressively and get people out in the economy because that would be unsafe,” she added.
“We are thinking hard about what does the economy need and … when can we shift gears mentally… from building a bridge to actually trying to stimulate the economy into a strong recovery,” she said. “And we are not there yet.”
