San Francisco Federal Reserve Bank President Mary Daly noted on Monday that she was not disappointed at the April jobs report because she had expected there would be volatility, as reported by Reuters.
“We are in a transition state, I remain encouraged.”
“We shouldn’t call it a worker shortage, it’s a bottleneck.”
“Labor market is in a state of flux and there are many constraints.”
“Could see inflation above 2% this year but will be transitory.”
“It is not yet time to talk about tapering QE.”
“We are a long way from home; not yet time to thinking about or talking about taper.”
“Fed policy is necessary to get economy back up to speed but we need to make sure financial system is resilient to shocks.”
“We are a long way from normalization.”
The US Dollar Index showed no immediate reaction to these comments and was last seen losing 0.15% on the day at 90.09.