Fed’s Daly Says Monetary Policy is in Good Place, More Fiscal Help Needed

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Fed's Daly Says Monetary Policy is in Good Place, More Fiscal Help Needed




File photo of the head of the San Francisco Fed, Mary Daly, posing at the headquarters of the entity in San Francisco, California


© Reuters / ANN SAPHIR
File photo of the head of the San Francisco Fed, Mary Daly, posing at the headquarters of the entity in San Francisco, California


Oct 15 (Reuters) – Monetary policy, including interest rates and the pace of asset purchases by the Federal Reserve are in a good position, but more fiscal stimulus may be needed to ensure households can recover and state and local governments, the San Francisco Fed chief said Thursday.

“These two things must go together or else we will have an incomplete solution,” Mary Daly said during an online seminar interview with the Wall Street Journal.

Daly declined to say what conditions they believe should be met before the Fed should adjust the pace of asset purchases, adding that it did not want to “advance the deliberations” that could take place during monetary policy meetings.

(Report by Jonnelle Marte, Edited in Spanish by Manuel Farías)

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