Fed Reserve moves on mandates
- By FederalSoup Staff
- Sep 15, 2021
One little-discussed, but very important, part of the federal government—along with its thousands of feds—is pressing ahead rapidly with COVID vaccination mandates, and in some cases ahead of the rest of the government’s schedule.
The Federal Reserve Bank, an independent agency that works with the Treasury Department to manage the country’s banking system and economy, has major regional bank units with offices in New York, Boston, St. Louis, San Francisco, Chicago, Cleveland, Dallas, Atlanta, Richmond, Va. and Kansas City, Mo. The far-flung organization employs nearly 20,000 people.
The agency, as reported by Reuters this week, is requiring its employees to get vaccinated—with some deadlines as soon as the beginning of next month.
A handful of federal officials are quoted as sources in the piece, and it is noted that Federal Reserve officials have also been some of the most pointed advocates for more widespread vaccination in the U.S., as a crucial and needed step to stabilize the economy against COVID’s deleterious effects over the past year-and-a-half and continuing to this day.
“Several measures of economic activity have shown improvement since the start of the COVID-19 vaccine rollout, “ stated one official paper for example, published on the Fed Reserve website in June. “This [document] quantifies the impact of the rollout across four main dimensions of activity: spending, mobility, education, and employment.”
"All told, our results illustrate that a faster pace of COVID-19 vaccinations in the first five months of 2021 not only improved health outcomes, but also supported economic activity," yet more research published on the Federal Reserve site observed, this one published this month. "As the global vaccine rollout continues, these results support the observation that the global economy will continue to recover from the slump of early 2020."