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- Philadelphia Fed president Harker: Fed's goal is to make sure every sector of economy has access to liquidity
Philadelphia Fed president Harker: Fed's goal is to make sure every sector of economy has access to liquidity
- Coronavirus led to a collapse in most forms of consumer spending
- Q2 will be brutally painful because of coronavirus and mandates economic shutdown
- We can expect U.S. economy to underperform until virus is under control
- Crisis is severely harming the nonprofit sector and higher education
- A scenario where economy opens too quickly and leads to second wave of virus would reverse the recovery
- Recovery will be on even, with manufacturers rebounding more quickly than travel and hospitality
- Banks shouldn't be issuing large dividends now
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