Fed’s Daly says she worries pandemic will widen racial and gender inequalities

NEW YORK (Reuters) – San Francisco Federal Reserve President Mary Daly said she is worried the pandemic will widen gender and racial inequalities and said policymakers need to make sure the recovery is inclusive.

Daly said the crisis “magnified” gaps that existed across race, gender and other communities and that people who cannot work from home are especially challenged.

“We need to make sure that we reach back and ensure that everyone makes it through the pandemic, not just those who are fortunate enough to have a workaround,” Daly said during an online conference organized by the Professional BusinessWomen of California. “If we don’t do that, then my worst fear is we’ll leave a whole generation of people behind … and really widen the inequalities we came into the pandemic with.”