I want to express my appreciation to Kevin Daly for inviting me to participate in the Society of Professional Economists Annual Online Conference.1 The U.S. economy saw a strong initial bounceback from the depths of the COVID-19 (coronavirus disease 2019) crisis, aided by significant targeted support. The recovery remains highly uncertain and highly uneven—with certain sectors and groups experiencing substantial hardship. These disparities risk holding back the recovery. The Federal Reserve is committed to providing sustained accommodation to achieve a broad-based recovery. Further targeted fiscal support will be ... (full story)

Federal Reserve Governor Lael Brainard issued a call Wednesday for more fiscal support from Congress, saying that more stimulus is needed to address a recovery that so far has left out large parts of the economy. “The recovery remains highly uncertain and highly uneven—with certain sectors and groups experiencing substantial hardship. These disparities risk holding back the recovery,” Brainard said remarks to the Society of Professional Economists. “Further targeted fiscal support will be needed alongside accommodative monetary policy to turn this K-shaped recovery into a broad-based and inclusive recovery,” she ... (full story)