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Fed’s Daly Plays Down Inflation as Officials Warn of Virus Risk

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Michelle Bowman

Michelle Bowman

Photographer: Zach Gibson/Bloomberg
Updated on

Federal Reserve officials said the economy continues to be disrupted by the pandemic with one regional central bank chief dismissing the threat that inflation could get out of hand.

“I don’t think that’s a risk we should think about right now,” San Francisco Fed President Mary Daly told a virtual discussion Tuesday. “We should be less fearful about inflation around the corner and recognize that fear costs millions of jobs.” She is a voter on monetary policy this year.