Kansas City Federal Reserve Chair Esther George He said Wednesday that the time has come to change the monetary policy setup, Reuters reported.
Featured statements
“The timing of the Fed’s gradual reduction in asset purchases is not mechanically connected to the timing of any policy rate adjustment.”
“The road to policy normalization is likely to be long and bumpy.”
“The pre-pandemic labor market may not be the best guide for evaluating peak employment.”
“The maximum boost to economic growth from fiscal policy is probably over.”
“Temporary factors related to the pandemic are likely contributing to the current stress in the labor market.”
“As schools reopen and improved unemployment benefits end, these constraints on the labor supply should be alleviated.”
“Economic growth is expected to slow, but to remain strong.”
“The labor market will continue to recover at a rapid pace and inflation will moderate.”
“The delta variant of the coronavirus threatens to renew restrictions or increase consumer caution and could delay economic recovery.”
Market reaction
The US Dollar Index It did not show an immediate reaction to these comments and was last seen gaining 0.13% on the day at 92.95.
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