Comments from the SF Fed president
- Will take ongoing monetary policy support to achieve Fed's goals
- Hitting or exceeding 2% inflation goal for a few months does not mean victory
- Need 'sustained' moderately-above target inflation
- True recovery will most likely be protracted
Daly is over on the dovish end of the scale but she's not pounding the table for immediate stimulus. To me, that means the chance of a move in December is nil.
