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- San Francisco Fed president Daly: Recovery path out of the virus crisis is unlikely to be a swift one
San Francisco Fed president Daly: Recovery path out of the virus crisis is unlikely to be a swift one
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Doesn't expect a V-shaped recovery
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Expects something more like negative quarters of growth this year, then gradual return to positive growth next year
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It will take time for governments to lift restrictions and people to regain confidence
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Uncertainty is the central issue surrounding the economy's future
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Fed is committed to near-zero rates until after the crisis passes
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Until price pressures move higher and unemployment data reverse its course
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