More fiscal aid probably needed – Fed’s Mester
President of the Cleveland Federal Reserve Bank Loretta Mester said further fiscal relief is needed for ensuring a rebound of the US economy, which had weakened amid the coronavirus pandemic.
Mester explained that another round of stimulus is probably necessary so the country can weather the pandemic, but that the nation’s economy is in a good spot with the monetary policy right now.
She also said that the Fed won’t be late to tighten its monetary policy in case inflation picks up amid the pandemic, and urged for structural issues in the Treasury market to be addressed.
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