San Francisco Federal Reserve President Mary Daly on Thursday signaled support f...
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir.
“Right now, with little inflationary pressure and considerable uncertainty about the threshold for full employment, I’m biased towards including as many workers as possible in the expansion,” said Daly, who is not a voter on Fed policy this year but supported the U.S. central bank’s interest-rate cut in July.
Daly, in her remarks prepared for delivery to the Reserve Bank of New Zealand and the International Monetary Fund in Wellington, did not directly say how she views the tradeoffs for delivering another interest-rate cut when she and other Fed policymakers meet in September. Instead she stuck to an analysis of underlying U.S. economic trends, which include slower growth and lower interest rates than historically had been the case, and a weaker link between low unemployment and high inflation than in the past.
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