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Policymaking in a Time of Uncertainty

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  • Mary C. Daly

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.

Suggested Citation

  • Mary C. Daly, 2021. "Policymaking in a Time of Uncertainty," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2021(31), pages 1-06, November.
    • Handle: RePEc:fip:fedfel:93382
    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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