May 7, 2020 / 3:39 PM / 23 days ago

Fed still has tools to help economy, Daly says

FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir

SAN FRANCISCO (Reuters) - The Federal Reserve, which has lowered rates to zero, bought trillions of dollars of U.S. government debt and rolled out a range of lending programs to battle the effects of the coronavirus pandemic, still has tools to boost the economy, San Francisco Federal Reserve Bank President Mary Daly said Thursday.

In an interview with Bloomberg TV, Daly also said that people she speaks with do not expect a “V”-shaped recovery.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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