The additional $600 in Pandemic Unemployment Compensation payments relieved the financial burden of those most in need without dissuading a return to work. A job is worth much more than temporary unemployment insurance payments.
The pandemic, recession, and social justice movement are redefining how we work and live. Join San Francisco Fed President Mary C. Daly, Arianna Huffington (Thrive Global), Erica Brescia (GitHub), and Nick Bloom (Stanford; National Bureau of Economic Research) for our first in a series of conversations on the new future of work.
In response to the pandemic, the Federal Reserve took measures to support the functioning of financial markets and the flow of credit. Nevertheless, the economic downturn is putting downward pressure on inflation. Expectations could decline and push inflation down further, ultimately hampering economic activity. A framework based on average-inflation targeting could help address these challenges.
We like to say we work for the Fed, not at the Fed. That’s because the SF Fed is not just another employer or government agency. Here, you have the opportunity to become part of an important public service institution whose work touches lives across the globe.