SF Fed Pres. Mary Daly speaking:

Fed's Daly
Fed's Daly
  • 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