Fed will do what it takes to help Americans, Daly says

Fed will do what it takes to help Americans, Daly says

San Francisco Fed President Mary Daly on Tuesday said she believes the U.S. is probably already in recession, as millions of people lose their jobs and stay at home in order to bring a quicker end to the pandemic that has sickened tens of thousands in the U.S. alone.

FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses in San Francisco
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir./File Photo

REUTERS: San Francisco Fed President Mary Daly on Tuesday said she believes the U.S. is probably already in recession, as millions of people lose their jobs and stay at home in order to bring a quicker end to the pandemic that has sickened tens of thousands in the U.S. alone.

"The Federal Reserve is prepared to do whatever it takes within our powers to ensure that we are part of the solution of shoring up people over the virus, shoring up the American economy and putting us in the best position to grow again once the virus recedes," Daly said in an interview with Yahoo Finance. "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."

(Reporting Ann Saphir; Editing by Chizu Nomiyama)

Source: Reuters

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