(Reuters) – Philadelphia Federal Reserve Bank President Patrick Harker said on Thursday that U.S. authorities should not rush to re-open the economy in order to avoid a potential second wave of coronavirus infections and said the central bank would keep interest rates low until the U.S. economy fully recovers.
“In terms of monetary policy, we’re going to stay low until we really see the economy starting to recover back to our dual mandate,” Harker said in an interview on CNBC. “The worst thing we could do in my mind is rush this, and we’re in a situation then where we could have a significant rebound of COVID-19.”
(Reporting by Jonnelle Marte; Editing by Leslie Adler)
