Fed’s Daly sees sharp rebound, then slower slog back to pre-pandemic economy


FILE PHOTO: Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, U.S., November 12 2018. REUTERS/Ann Saphir

January 29, 2021

(Reuters) – San Francisco Federal Reserve President Mary Daly on Friday said she expects a “sharp rebound” in economic activity once more people are vaccinated against COVID-19, but the Fed’s work to bring more Americans back to the workforce won’t be done for some time after.

“That sharp rebound will not be the end of our job,” Daly told the Latino Entrepreneurship Initiative at the Stanford Graduate School of Business. “I think it’s going to take one or two years to get fully back to where we were” before the pandemic-sparked recession.

(Reporting by Ann Saphir; Editing by Leslie Adler)

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