Fed's Daly: Bottlenecks explain both price increases and labor shortages

Eren Sengezer FXStreet

San Francisco Federal Reserve Bank President Mary Daly said on Tuesday she is very hopeful they will feel that they are moving out of the deep hole caused by COVID by next year, as reported by Reuters.

Additional takeaways

"Outlook is quite positive, I am bullish."

"Confident we'll get more and more vaccinated and people are ready to get out and spend."

"Bottlenecks explain both price increases and labor shortages; both likely transitory."

"Future of community banking looks far stronger now than in the past."

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen losing 0.18% on the day at 90.11.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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