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Fed’s Daly Pushes Back Against Pulling Policy Aid to Curb Stocks
The U.S. central bank should not prematurely withdraw pandemic support for the U.S. economy just because some people are getting rich in the stock market, said San Francisco Federal Reserve Bank President Mary Daly. “We’re building this bridge, which is barely having many communities hang on, and the stock market is running pretty good and many people who already have money are getting more money,” she said Friday during a virtual discussion hosted by the Stanford Graduate School of Business. “I am not willing to pull that bridge away and injure, in my judgment, the livelihoods of people -- because they ... (full story)