In an interview with CNBC on Tuesday, the President of the Federal Reserve Bank of San Francisco, Mary Daly, noted that they will be in a good position to begin reducing asset purchases by the end of the year, as reported Reuters.
Featured statements
“A burst of inflation was expected.”
“Let’s get through the volatile period so we can see where the economy really is.”
“The increase in inflation is temporary.”
“Several months of this does not mean that it is not transitory.”
“Short-term inflation expectations have risen, but long-term inflation expectations are very stable.”
“Long-term inflation expectations are what matters to achieve the 2% goal.”
“Politics is in a great place right now.”
“It’s appropriate to start talking about downsizing.”
“It is premature to talk about increases in interest rates.”
“The Delta variant is a risk.”
“We need to see how close we can get to full employment before we start talking about rate hikes.”
“We are not done with COVID yet.”
“Pandemic recovery aside, global forces on inflation are mostly down.”
Market reaction
These comments do not appear to have a significant impact on the USD’s performance against its rivals. At time of writing, the US Dollar Index was up 0.35% on the day at 92.55.
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