National Post (Latest Edition)

Top fed banker says U. S. needs more fiscal supp ort

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A top U. S. central banker on Wednesday again urged more fiscal support from Congress to help heal the economy even as Senate Majority Leader Mitch Mcconnell said Republican­s and Democrats were still “very very far apart” on how much to spend. “We need fiscal agents to offer fiscal support to the parts of the economy that have yet to recover, to the millions of Americans who are still sidelined and wondering how they are going to pay their bills,” San Francisco Federal Reserve President Mary Daly said Wednesday. “Whether it happens next week or next month is important to those American households, but also really important to shoring up the economy so that we can fully re-engage and get the coronaviru­s behind us.” Regarding the labour market, she said, “we are in a very big hole, a very big ditch.”

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