Inconsistent efforts by U.S. states to contain pandemic will likely prolong recession: Fed official

WASHINGTON, Aug. 12 (Xinhua) -- Limited or inconsistent efforts by U.S. states to contain the COVID-19 pandemic will likely prolong the economic recession, a senior U.S. Fed official said on Wednesday.

"While the fiscal and monetary stimulus has been significant, it cannot fully offset the economic drain caused by the public health crisis," Eric Rosengren, president of the Federal Reserve Bank of Boston, said in remarks prepared for an online presentation to the South Shore Chamber of Commerce in Massachusetts.