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MNI: Fed's Daly Sets Sights On 'Durable, Sustained Expansion'

Federal Reserve Bank of San Francisco President Mary Daly said Tuesday monetary policy should aim to create conditions for a "durable and sustained expansion" that allows families and businesses to recoup their losses and rebuild incomes and wealth that raise their economic well-being.

The FOMC recalibrated interest rates at its September meeting to recognize the substantial progress in getting inflation back toward 2% and the fact that the labor market has largely normalized, she said in remarks prepared for a New York University talk.

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Federal Reserve Bank of San Francisco President Mary Daly said Tuesday monetary policy should aim to create conditions for a "durable and sustained expansion" that allows families and businesses to recoup their losses and rebuild incomes and wealth that raise their economic well-being.

The FOMC recalibrated interest rates at its September meeting to recognize the substantial progress in getting inflation back toward 2% and the fact that the labor market has largely normalized, she said in remarks prepared for a New York University talk.

Keep reading...Show less