San Francisco Fed President Mary Daly said overnight that policymakers “got the economy and the policy in a good position right now.” Fed is “well positioned to weather this storm we are in”. Though, she also acknowledged that “it remains to be seen if more will be needed”. She’ll “continue to watch the data and see if adjustments will be necessary” on monetary policies.
Daly also said in a speech that Fed has a “critical role to play” in building a society of “equal opportunity and inclusive success”. “We’ve committed to finding full employment experientially, by seeing it in wages and prices. When we’ve achieved 2 percent inflation on average, we will know that we have approached our maximum and that the economy is firmly on its sustainable path.” She added.
“In other words, in the absence of sustained 2 percent inflation or emerging risks, such as to financial stability, we will not take the punch bowl away while so many remain on the economic sidelines.”
