San Francisco president is a nonvoter this year
- US labor market is very tight
- US is below its natural employment rate by almost every measure, but low wage growth gives her pause
- US labor market is strong, tighter than it has been in a while, but there might be more room to run
- signs of persistent inflation drag would be concerning and might require policymakers to do more
- may have to do more to drive inflation about 2% target
- efforts to get inflation backup to target could be appropriate
- people might find that the Fed has to do more to achieve its 2% inflation target
- a little inflation right now, including an overshoot, would be welcome
- she is very confident in Fed's ability to fight high inflation, less confident in the ability to fight too low inflation
- she feels confident the Fed could see inflation coming and have toolkits to respond
Daly is not the voting member on the Fed this year, but she is on board for a cut or two or three (until that point that inflation kicks higher).
