MNI BRIEF: Fed's George Wary Of Short-Term Outlook

Kansas City Fed President Esther George said Friday she remains concerned about the near-term outlook, despite confidence for the economy in the years ahead.

The short term has "risk around that outlook for sure," she said, including the pick up in Covid cases around the country and what will happen should fiscal support no longer be there. It will also be a "challenging time frankly for many of our states," she said, without commenting on Treasury's decision Thursday to end the central bank's municipal facility at year-end.

"In the next few years the economy is likely to grow, unemployment will come down, and we will do so in the context of a stable level of inflation," George said at a Fed conference on energy.