San Francisco Fed President Mary Daly said yesterday that her “modal outlook” is the US economy will continue to expand at a “gradual pace”. The current resurgence in infections gave her “cause for concern”, but the recent vaccine news is “heartening”. “When the virus is behind us, I feel we have the economy in a good position to go,” she said.
Kansas City Fed President Esther George said the “calibration” of monetary policy right now is “appropriate”. Those, she’s encouraged and surprised by the strength of bounceback in the economy in Q3. He expected growth to moderate though.
