Fed’s Daly: We will not be pre-emptively taking away the punch bowl

Comments from the SF Fed President

  • We will see a good, healthy dose of patience
  • Will look for a sustained achievement of 2% inflation and a projection of a sustained overshoot

The Fed messaging around this has been near-unanimous. Powell has been very good at getting everyone on board with the same message.


  • Over the next 10 years the risk is too-low inflation, not too-high

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