San Francisco Fed President Mary Daly told CNN yesterday that “we could have it (inflation) be worse before it gets better but it is definitely going to get better. She didn’t expect inflation to fall back to 2% by the end of the year.
Daly supports starting interest rate in March. However, she added that Fed should do neither too little nor be “overly aggressive”, as Fed alone couldn’t solve the inflation problem largely caused by the pandemic disruptions.
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