U.S. economy, Fed policy in ‘good position,’ Daly says

The Fed slashed interest rates to zero in the face of the coronavirus pandemic and began pumping trillions of dollars into financial markets, extraordinary actions that have helped fuel stock price gains even as the real economy struggles to regain its footing. Millions of Americans are still out of work. The situation, [San Francisco Fed President Mary] Daly said in a talk Tuesday hosted virtually by the University of California, Irvine, “seems unfair (and) another example of Wall Street winning and Main Street losing.”