Federal Reserve San Francisco President Daly spoke overnight, says she has pencilled in a slow and gradual recovery

The WSJ have a little more from her remarks, made on a conference call with media:

on whether an uptick in coronavirus-related illness in parts of the country is on track to damage her expectations of a slow and gradual recovery … "I'm afraid it's very uncertain"

  • "It is far too early to tell" what is happening with the economy
  • "there's just no information yet."
  • "we're not out of the woods in terms of the economic impact … until we get a widespread, strong mitigation strategy for the virus, or we get a vaccine."

Link to the Journal is here (may be gated)

Federal Reserve San Francisco President Daly spoke overnight, says she has pencilled in a slow and gradual recovery