Fed's Daly: Appropriate to start talking about when to reduce asset purchases
|San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that it's appropriate to start talking about when to reduce the pace of asset purchases, as reported by Reuters.
Additional takeaways
"Could get to 'substantial further progress' threshold for taper late this year, early next."
"Looking to the fall to get more clarity on the future path of the economy."
"Even talking about interest rate changes is not on the table."
"Inflation could breach 3% temporarily but expecting that to unwind."
"Should remain steady in the boat, not respond to next few months of volatile data."
"Fed's MBS purchases not having much direct effect on mortgage interest rates."
Market reaction
The US Dollar Index showed no immediate reaction to these comments and was last seen posting small daily losses at 91.78.
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