English
Federal President in San Francisco: The US Federal Reserve may reduce its support at the end of the year
San Francisco Fed President Mary Daly said the US central bank may be in a position to start reducing its exceptional support for the economy by late this year or early next.
"I'm optimistic about the recovery," Daly told reporters Tuesday, June 22nd after giving a speech on the risks of climate change at the Peterson Institute.
She added that she expected to make "more significant progress" towards full employment and the Federal Reserve's 2% inflation target, which is the limit the board set last December to cut its monthly asset purchases of $120 billion, which makes it believe "we can reach Until sometime late this year or early next year."
"We are not there yet, but it is appropriate that we start preparing for the time when we will get this far," she said.
On talking about any change in interest rates, Daly said that is not even on the table, and that the Fed needs to remain "steady" on policy and not react to the next few months of "volatile" data on the labor market and inflation.
