Daly is President of the Federal Reserve branch in San Francisco, her comments come after an online event:
- recent rise in bond yields is a sign that investors see a "brighter future"
- sees QE and operation twist as a first tool but not discounting the use of YCC
- policy is in a good place right now
- full job market recovery to take at least a year or two after the US is fully vaccinated
USTs catch a wee bid.
