By Reuters Staff
1 Min Read
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir
(Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Tuesday said the U.S. economy is a “long way” from the Fed’s goals of full employment and 2% inflation, and it is not time yet to start talking about reducing support for the recovery.
Asked when the Fed should start tapering its $120 billion a month bond-buying program, Daly told the Economic Club of Minnesota that the right time is “when we are much closer to achieving our dual mandate goals than we are now. We have an optimistic outlook, a long way to go, and we are not out of the woods yet. we have only had a couple of months of really good data.”
How the Fed may ace, or flub, its inflation call
As the U.S. economic recovery builds momentum, Americans will need to brace for a burst in prices of everything from airfare to lumber, cars to diapers.
U.S. central bankers, charged with keeping prices steady along with getting the economy to full employment, say the pain will soon pass and much of the coming pickup in inflation should peter out after several months.
Whether their call bears out or blows up will shape the course of monetary policy and the outlook for the world’s biggest economy.
THE FED’S BULGE CALL
BusinessHow the Fed may ace, or flub, its inflation call
Ann Saphir
1/2
Travelers queue in a security line limited to every other lane for social distancing at Seattle-Tacoma International Airport in SeaTac, Washington, U.S. April 12, 2021. REUTERS/Lindsey Wasson
Read More
As the U.S. economic recovery builds momentum, Americans will need to brace for a burst in prices of everything from airfare to lumber, cars to diapers.
U.S. central bankers, charged with keeping prices steady along with getting the economy to full employment, say the pain will soon pass and much of the coming pickup in inflation should peter out after several months.
US central bankers, charged with keeping prices steady along with getting the economy to full employment, say the pain will soon pass and much of the coming pickup in inflation should peter out after several months.
How the Fed may ace, or flub, its inflation call - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.