SAN FRANCISCO (REUTERS) - The Federal Reserve is ready to do more to help a US economy ground to a sudden halt as businesses shutter and people stay home to slow the coronavirus pandemic, San Francisco Fed president Mary Daly said on Tuesday (March 31).. Read more at straitstimes.com.
SAN FRANCISCO - The Federal Reserve is ready to do more to help a US economy ground to a sudden halt as businesses shutter and people stay home to slow the coronavirus pandemic, San Francisco Fed president Mary Daly said on Tuesday .
"If we do the right thing and shelter in place and curb the spread of the virus, the economy will be in the best position to bounce back." With businesses laying off millions of workers as demand dries up and states ordering non-essential businesses to close, the economy is likely already in recession, Daly said.
Once the pandemic threat has passed, the Fed's programs and low interest rates will help drive the economic recovery, she said.
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