San Francisco Federal Reserve President Mary Daly told Washington Post on Wednesday that she was not expecting to see a V-shaped recovery despite the recent positive signs.
Additional takeaways
“It is a wait and watch moment.”
“Expecting US unemployment to stay above 10% through end of the year under the best-case scenario.”
“Employers are not ramping up output, hiring because of uncertainty.”
“If we can get virus under control, the recovery can take just four or five years.”
“Fed’s lending facilities ultimately help main street and consumers.”
Market reaction
These comments don’t seem to be having a significant impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was down 0.3% on the day at 97.10.
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