Economics
Fed’s Daly Says Covid Pushing Prices Up but Impact Should Fade
- Says pandemic pushing prices higher but impact should fade
- San Francisco Fed chief is among central bank’s policy doves
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The U.S. labor market will see “ups and downs” as the pandemic lingers but it’s premature to judge that the recovery is in peril, said San Francisco Federal Reserve President Mary Daly.
“It’s too soon to say it’s stalling, but certainly we’re seeing the pain of Covid, and the pain of the delta variant,” Daly told CBS’s “Face the Nation” on Sunday. “Covid is not behind us, so I don’t expect the job market to just be continuous. It is going to have these ups and downs.”