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Fed's Daly sees U.S. inflation at 2% goal in five years
Abstract：San Francisco Federal Reserve President Mary Daly said it's unlikely inflation will fall to 2% this year, but she does expect it to start dropping and to be at the Fed's 2% goal in five years.
San Francisco Federal Reserve President Mary Daly on Wednesday said it's unlikely inflation will fall to 2% this year, but she does expect it to start dropping and to be at the Fed's 2% goal in five years.
“There's just too many supply chain bottlenecks, we're already through the first quarter, China's got COVID we've got the war in Ukraine, so I don't think we are going to get 2 this year, but I do think we are going to start coming down,” Daly said after a speech at the University of Nevada in Las Vegas.
Asked about a New York Fed survey that showed households expect inflation to be at 3.7% in three years' time, she said, “My own view is that we would do policy adjustments so that five years from now we are more on 2% not on something north of 3 (%).” Please download WikiFX for more forex news.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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