Fed Daly speaking. She is a voting member in 2021
The San Francisco Fed president Mary Daly is speaking on CNBC and says:
- Sees underlying strength and economy. Bullish on the fall
- Will need to ride through economic data volatility
- Transitory isn't about timing, it's about what's driving the increases in inflation
- Firmly in transitory in view on inflation.
- No sign that long-term prices are rising in a way that is continuous
- House prices are supported by strong economy.
- Expects housing prices to moderate
- We are talking about talking about tapering
- Right now policy is in a very good place.
- The Fed need to be patient
- We have not seen the substantial further progress just yet
- Looking forward to the fall to see data come back and be more steady
Daly is sitting steady. Not concerned about inflation. Expects growth to pick up.
