Economy

Fed’s Mester says ‘downside risks’ to economy on the rise

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Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego, California, January 3, 2020.

Ann Saphir | Reuters

Cleveland Federal President Loretta Mester called Wednesday for more help from Congress and said the central bank stands at the ready to provide whatever resources it can to help an economy at risk from rising coronavirus cases.

A spike in cases among hotspots across the U.S. has increased dangers to an economy that slumped nearly 33% in the second quarter on an annualized basis. 

However, Mester said in a speech to the Liberal Arts Macroeconomic Conference that the threat…

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Source cnbc.com

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