Fed will do 'whatever it takes' to help US economy likely in recession, Daly says | Malay Mail

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WASHINGTON, April 1 — 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 yesterday. “The Federal Reserve is prepared to do whatever it takes...

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Wednesday, 01 Apr 2020 07:56 AM MYT

WASHINGTON, April 1 — 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 yesterday. “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.

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