Tuesday, February 9, 2021

At least six year to rebuild California

(Reuters) - U.S. monetary policy will stay accommodative for a “very long time” because the economy is far from the Federal Reserve’s goals for maximum employment and price stability, Cleveland Fed President Loretta Mester said Monday.

“We’re going to be accommodative for a very long time because the economy just needs it to get back on its feet,” Mester said during a virtual discussion organized by the Toledo Rotary Club.


The policymaker repeated her view that economic activity could pick up in the second half of the year after most Americans have been vaccinated. But until then, fiscal aid that speeds up vaccine distribution and supports workers who are unemployed or underemployed could help stabilize the economy, Mester said.

Don't let them fool you, this is about California, and possibly Illinois.  They intend to wai, they do not know anything else and our favorite economists are blocking any realistic proposals.  Even the monetarists do voting for yap and yap and yap therapy. Won't work and the Californians will force us into a Nixon Shock.

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