Fed’s Daly says there is little evidence additional jobless benefits are discouraging work

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(Reuters) – The enhanced unemployment benefits provided to jobless Americans helped to offset the negative shock caused by the virus and there is little the payments deterred people from seeking new work, San Francisco Mary Daly said on Wednesday.

The Fed official also said the recovery will be slow and gradual, depending on the virus, and that she is not expecting a V-shaped recovery.

Any policies that can encourage consumers to keep during the downturn will help the recovery, Daly said during a virtual event organized by the Economic Club of Las Vegas.

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Source: Investing.com

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