Fed will do 'whatever it takes' to help U.S. economy likely in recession, Daly says
“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.”
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Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimatesMillion of Americans already have lost their jobs due to the coronavirus crisis and the worst of the damage is yet to come, according to the Federal Reserve.
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