Mary Daly is President and Chief Executive Officer of the Federal Reserve Bank of San Francisco
Speaking in an interview with PBS in the US.
More:
- low interest rates support a myriad of activities in the economy
(house flipping?)
More:
- we are not fully beyond Covid, people still dealing with disruption from the pandemic
- if we can get Covid full behind us we get fully back to the economy we miss
- high inflation readings do not, my mind, suggest Fed needs to change course
- says supply will respond, inflation will not stay high
- she is looking for continued progress in the labour market, rising vaccination rates before would taper
- her modal outlook is that the Fed will be able to taper later this year or early next year
- Delta variant is beginning to slow activity across the country
