As Reuters reports, citing comments made by San Francisco Fed Chair Mary Daly on Bloomberg Television, Daly rejected the idea that the Fed should act immediately to address inflationary pressures., saying it would be premature for the Fed to change its estimate of rising interest rates. His comments come in the wake of the latest US consumer price inflation report for October, which showed that the annual rate of the general CPI exceeded 6.0% for the first time since 1990.
Additional comments
“Inflation is high, we have a challenge right now“.
“This is a period transient.”
“High inflation is not expected to persist at these rates once covid has passed.”
“Even though it is temporary, high inflation hurts.”
“The higher inflation figures have my attention.”
“The number of jobs lost it also has my attention. “
“We need a self-sustaining economy once we pass the covid.”
“Historically we have been too bearish, and wrong, about labor force participation.”
“Americans want to work, but are constrained by covid-related problems.”
“If we raise rates now, it could be quite premature.”
“It could leave the economy short, both in price stability and in employment.”
“Uncertainty forces us to wait and watch carefully.”
“I hope inflation moderates.”
“Continuity of Fed Policy does not depend on who is in the presidency from the Fed. “
“Would premature to start asking if we should speed up tapering.”
“As the delta wears off, I expect the economy to regain momentum.”
“I am optimistic, but I would not be surprised if the growth ahead is more moderate than what we saw at the beginning of the year.”
“The Fed wouldn’t be constrained by what other central banks are doing“.
“Infrastructure spending could boost inflation in the short term, but lower it and boost productivity in the long term.”
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