“The Federal Reserve stands ready to respond with the full range of policy tools until COVID-19 is behind us,” he said Tuesday. the president of the San Francisco Federal Reserve, Mary Daly, as reported by Reuters.
“The trajectory of public health is very worrying.”
“Continued support from monetary policy will be needed to achieve the Fed’s goals.”
“Reaching or exceeding the 2% inflation target for a few months does not mean victory.”
“We need sustained inflation, moderately above target.”
“Most likely, true and full recovery will be prolonged.”
“Low rates increase the risks of the financial system, and are best addressed with micro and macroprudential tools.”
“The Fed will need to develop tools to further mitigate financial system risk in the coming years.”
“The Fed also needs more work on climate risk for the financial system, the economy in general.”
The US Dollar Index did not show an immediate reaction to these comments and was last seen shedding 0.63% on the day at 91.30.