Fed's Mester speaks to reporters
- We are still in a deep hole and economy is dependent on the virus
- Economic activity has picked up in areas responsive to low interest rates like housing, but not restaurants in other industries
- Reopening phase is going to take quite a while
- It's going to take a while for commercial real estate to bounce back and more is this is made close without fiscal support
- We expect to remain accommodative for quite some time
