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Bonds News

Fed's Daly: New stimulus bill is 'unequivocally beneficial'

Dec 20 (Reuters) - The $900 billion coronavirus aid package that appears to be nearing passage in Congress will provide essential support for Americans and provide the U.S. economy with a bridge through the COVID-19 crisis, San Francisco Federal Reserve Bank President Mary Daly said on Sunday.

“This support is unequivocally beneficial,” Daly said in an interview on CBS’ “Face the Nation.”

“If you think about where we started in March when COVID hit our shores and where we are now, it’s really remarkable that the economy has done so well,” she said. “That speaks to the resiliency of the American people but of course to the significant support that the Federal Reserve and Congress have taken to ensure that the bridge through coronavirus, over coronavirus, is both strong enough and long enough to get Americans fully through this.” (Reporting by Dan Burns; Editing by Daniel Wallis)

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