Fed’s Daly: Inflation will moderate, uncertainty requires us to wait
San Francisco Federal Reserve Bank President Mary Daly on Wednesday said she expects high inflation to moderate once COVID-19 recedes, and repeated that it would be “quite premature” to raise rates now or even to speed up the Fed’s bond-buying taper.
“Uncertainty requires us to wait and watch with vigilance,” Daly said in an interview on Bloomberg TV. High inflation is being driven by supply-chain bottlenecks and high consumer demand for goods, she said, and labor supply is constrained due to COVID-19 fears and impact.
Source: Reuters (Reporting by Ann Saphir, Editing by Nick Zieminski)