Fed's Daly: US economy is faced headwind after headwind. In good place
San Francisco president Mary DalySan Francisco Pres. Mary Daly is speaking. She says:
- US economy is faced had one after headwind, in a good place to weather storms right now
- thanks natural rate of unemployment is the current level, but I've been wrong before
- business more optimistic than end of last year that economy in a better place
- average inflation targeting over a long period, makes sense, not talking about much above 2%
At 10 AM ET (whoops he is already talking. He started at 9:30 AM ET), Fed's Powell will have his 2nd day of testimony on Capitol Hill. This time he will be before the Senate banking panel. As traditionally the case the prepared marks will likely be exactly the same as will most of the questions and answers.