SF Fed Pres. Mary Daly speaking:
- Annual US wage growth of about 3% is good news
- We need to wait to see if lower rates will boost the growth
- Bargaining power of workers has gone down
- US economy likely to grow 2% a year for the next decade
- We have good underlined domestic momentum, wages up
- Headwinds include slowing global growth, Europe, China
- Business investment being curbed by uncertainty
- We are independent, don't think about politics
- Data on US economy have been looking pretty good