Federal Reserve San Francisco head Mary Daly:
- says US economy and policy accommodation 'in a good place' right now
- says she is watching for any changes to domestic momentum or headwinds that face economy
- says she is looking at consumer spending, consumer confidence, jobs growth, inflation expectations
- says she expects that with accommodation that is in place inflation will rise back to 2%
- says she'd like to see inflation move up to 2% within a year
- says Fed is in a process of learning how to implement its ample reserves regime
- says her business contacts tell her they have an overarching level of uncertainty that won't go away until its causes, like US-China trade tensions or Brexit, are actually resolved
That "overarching level of uncertainty" does not sound encouraging. US-China talks are going on and on and on …. Brexit seems encouraging but is anyone seriously thinking proposals will pass through a fractured parliament?
Earlier:
- Fed's Daly says low inflation is showing the labor market has more room to run
- Fed's Daly: News on US economy is 'largely positive'
