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Fed’s Daly says ‘closing in’ on achieving inflation, employment goals -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Mary Daly, President of San Francisco Federal Reserve Bank, poses in front of her first public appearance since the outbreak of coronavirus (COVID-19), at the Commonwealth Club of California San Francisco, California.

(Reuters] – President Mary Daly of San Francisco Federal Reserve Bank said Thursday that the U.S. economy was “closing in on” its central bank’s goals of full unemployment and 2% inflation at the very least for the near term.

Daly, a virtual Bank of Ireland event organizer said that “there’s a difference between the short and the long term…balancing these things will be critical for business for monetary policies as we move forward 2022.” She said that while the labor market looks strong, it is not supporting as many jobs now than before the pandemic. This is because older workers and women aren’t allowed to join the workforce due COVID restrictions.

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