Technical Analysis

Fed’s Daly: Sees moderate, gradual recovery going forward

San Francisco Fed Pres. Mary Daly is a voting member in 2021

  • Moderate gradual recovery going forward
  • Surging Covid 19 cases creates uncertainty, could slow pace of growth
  • Lack of resolution on political process ads to pervasive uncertainty
  • Vaccine news hardening, but economy is being dictated by virus which is surging
  • Some sectors like restaurants, tourism, need more support
  • Will need more unemployment insurance, more PPP or similar program
  • Fed policies now are giving people a bridge, exact same policies will be stimulative 1 pandemic is passed
  • Fed is prepared to do whatever it takes to support economy

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Data since Nov consistent with slowdown

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