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Fed's Daly urges more government spending to boost economy

FILE PHOTO: San Francisco Federal Reserve President Mary Daly reacts at the Los Angeles World Affairs Council Town Hall, Los Angeles, California, U.S., October 15, 2019. REUTERS/Ann Saphir

(Reuters) - San Francisco Federal Reserve President Mary Daly on Wednesday urged more government investment in roads, bridges, digital infrastructure, education, climate resiliency and other productivity-boosting infrastructure to help pull the economy from the deep recession brought on by the coronavirus pandemic.

The role for fiscal policymakers “has never been stronger than it is right now, in my lifetime,” Daly said at an online event run by the Harvard Kennedy School’s Institute of Politics. “We have to build a bridge to help shore people up so that when we emerge from the crisis, we are well prepared to continue to grow.”

Reporting by Ann Saphir; Editing by Sandra Maler

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