San Francisco Fed President Mary Daly echoed the rhetorics of her FOMC colleagues, and said, “we won’t be preemptively taking the punchbowl away from the economy”.
Instead, “we want to discipline ourselves here and not get overly joyous that the unemployment rate is coming down, while so many other measures of labor-market activity remain well below pre-pandemic levels, still needing to recover,” she deed.
“So what you’re going to see in our framework is a good, healthy, and I think appropriate, dose of patience.”
