Stocks Climb After Trump Speaks on China

I would worry almost more that a second outbreak would undermine confidence. I mean, a full return to — a full recovery of the economy will really depend on people being confident that it’s safe to go out and save to engage in a broad range of economic activities. That’s how the economy will recover. And you see people testing the limits now, probably every day, all of us are doing things we might not have done two months ago. We know that — I guess everyone is affected by the pandemic in a negative way to one degree or another. But the burdens are falling very strongly on those who can least afford to bear them. The unemployed come very largely, so far, come very largely from parts of the service economy, which involve dealing with large groups of people in — that are tightly together. Secondly, falling on women to an extraordinary degree, this is falling on women to some extent, or in those jobs. And so this is, this — there’s tremendous inequality in the way the pandemic is affecting our population. Now you ask, does that does that affect our policy? Look, it does affect our policy. You know, although essentially part of our mandate is maximum employment. It’s maximum employment and stable prices are monetary policy mandates. So we’re very focused on the full range of employment, and doing whatever we can to really, as I mentioned earlier, to try to get those people back to work or in new jobs.

Article source: https://www.nytimes.com/2020/05/29/business/stock-market-today-coronavirus.html