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- Boston Fed president Rosengren: Excessive risk-taking behavior prior to COVID-19 is likely to delay U.S. recovery
Boston Fed president Rosengren: Excessive risk-taking behavior prior to COVID-19 is likely to delay U.S. recovery
- More fiscal and monetary accommodation is appropriate now that second wave of COVID-19 infections is underway in U.S.
- Women and minority workers are disproportionately impacted by excessive risk-taking by service sector firms
- Imbalanced human toll of COVID-19 on vulnerable workers in labor market is bad for economy and democracy
- A potential cost of Fed's new policy is that low rates encourage households and firms to take on more leverage and risk
- This is an important time to focus on preventing the buildup of financial imbalances
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