Policymaking in a Time of Uncertainty

Mary Daly

FRBSF Economic Letter, 2021, vol. 2021, issue 31, 06

Abstract: The impact of COVID and its ongoing threat continue to disrupt and delay the full recovery of the economy. It is tempting to act now, believing that what we see today are clear signals. However, acting without clarity is risky. In the face of unprecedented uncertainty caused by the long tail of the pandemic, the best policy is recognizing the need to wait. The following is adapted from remarks by the president of the Federal Reserve Bank of San Francisco to The Commonwealth Club of California on November 16.

Keywords: covid19; economic conditions; inflation; monetary policy; employment; patience (search for similar items in EconPapers)
Date: 2021
Note: The following is adapted from remarks by the president of the Federal Reserve Bank of San Francisco to The Commonwealth Club of California on November 16.
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Working Paper: Policymaking in a Time of Uncertainty (2021)
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