Off The Wire
Fed's Evans says vulnerable workers affected by crisis face highly uncertain future
NEW YORK (Reuters) - The economic crisis caused by the coronavirus pandemic is falling hardest on the most vulnerable workers, and policymakers need to coordinate to come up with creative policies to help people make it through the uniquely painful downturn, Chicago Federal Reserve Bank President Charles Evans said on Monday.
“This recession is unique in its swiftness severity and scope,” Evans said in opening remarks for an online forum organized by the Chicago Fed.
“Tragically the most affected are our most vulnerable neighbors - those who don’t enjoy paid sick leave, can’t work from home or don’t have much cushion in their savings accounts. Their future is highly uncertain and will require new policies to help them through this difficult transition.”
Reporting by Jonnelle Marte; Editing by Marguerita Choy