No "V"-shape return from devastating U.S. job loss, Fed policymakers say

San Francisco Fed President Mary Daly, who appeared on CNN an hour later, said the Fed’s unprecedented actions, along with nearly $3 trillion committed by the U.S. Congress for rescue efforts, should help.

“What I’m hoping in the baseline is we can come back safely, we listen to public health officials, we take it slow but gradual…if we do those things and we reenter safely, then I expect us to have positive growth in 2021,” Daly said.

Asked if it could take 10 or 12 years to repair the job market, as it did after the 2007-2009 financial crisis, she said, “I’m working night and day to ensure that doesn’t happen.”

But the economy can’t rev up too quickly, not as long as the virus is still loose, she said.