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Fed’s Mester says full recovery a long way off, more fiscal help needed

NEW YORK, July 7 (Reuters) – A resurgence in coronavirus cases across the country is making consumers more cautious, and more fiscal stimulus is needed to help the economy recover fully from the crisis, Cleveland Federal Reserve Bank President Loretta Mester said on Tuesday.

“We’re still on this long recovery phase where I think it’s going to take quite a long time to get back to where activity and employment was pre-pandemic,” Mester said during an interview with CNBC. “Individuals need more help and I think state and local governments need more help.” (Reporting by Jonnelle Marte Editing by Chris Reese)

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