Kansas City Fed Pres. Mester George speaking
- Generally optimistic for continued economic recovery
- Accommodative monetary policy stance is appropriate
- Too soon to speculate on timing of any change to stance
- Consumers ready to spend, businesses to rebuild inventories once virus clears and daily decision-making returns to normal
- Vaccination delays now among the most substantial risks facing US recovery
- Inflation could hit Fed's target more quickly than some might expect after the pandemic, though not a near-term threat.
George is being cautious on policy changes although acknowledges inflation could rise more quickly.
