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The Fed Will Not Take Action On A Temporary Inflation Advance This Year: Mary Daly

Apr 1 (Reuters) – San Francisco Federal Reserve Chair Mary Daly said on Thursday that the US central bank will keep its monetary policy loose despite expected price increases this year, as the economy it is reopening and consumers increase their expenses.

“As monetary authorities, we have to look beyond these temporary increases, we are really expecting sustained improvements in inflation so that we can average 2% and meet our goal of price stability,” Daly said in an interview with the chain. Fox Business.

“We still have almost 10 million people who are looking for work … we are not really projecting to achieve either of the two objectives of our mandate in 2021 and that is the reason why monetary policy will continue to be expansionary,” he said .

(Reporting by Ann Saphir. Edited in Spanish by Marion Giraldo)

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