Vocal critics are emerging of the US pandemic response: its central bankers
of questionable legality to temporarily extend certain stimulus provisions. Mary Daly, the president of the Federal Reserve Bank of San Francisco, told reporters on Wednesday that congress needs to agree on a new stimulus package as the US economy may flat out never recover from the pandemic, according to the"It's certainly possible that we don't come back, at least in certain sectors in the same way as before," she said.
"That will mean a large number of workers are not able to go back to the same jobs they had before the pandemic."Eric Rosengren, the president of the Federal Reserve Bank of Boston, slammed the country's coronavirus pandemic response in a Wednesday virtual meeting with the South Shore Chamber of Commerce in Massachusetts, according to The"Limited or inconsistent efforts by states to control the virus based on public health guidance are not only placing citizens at unnecessary risk of severe illness and possible death, but are also likely to prolong the economic downturn," he said.that as long as the virus "poses significant threats to public health," economic activity will not tick up as individuals will "voluntarily avoid activities that place their health at risk." He stated that tighter restrictions on economic activity in Europe at the height of the virus in the spring allowed for successful retail and recreational reopenings and a fast economic recovery period. Daly also pointed to the US government letting unemployment lapse on July 31 as an example of the inconsistent response that is ultimately
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