Mary Daly is President and Chief Executive Officer of the Federal Reserve Bank of San Francisco. Speaking at the RBNZ / IMF conference in New Zealand
- in a "watch and see" position on monetary policy right now
- saw July rate cut as a recalibration of policy, to be slightly accommodative
- says I'm convinced using our tools early and pre-emptively is better than waiting
- better to avoid the ditch rather than digging yourself out of the ditch
- says US growing at solid pace, business investments off but overall economy growing.
- economy is well positioned to continue to grow slightly above trend, reach inflation target
- concerned about not achieving our 2 % inflation target
- headwinds include uncertainty, global growth slowdown
