Fed’s Daly: Remains to be seen if more Fed action needed, will watch data

Dhwani Mehta FXStreet

San Francisco Federal Reserve (Fed) Bank President Mary Daly was back on the wires, now speaking to media about the central bank’s monetary policy outlook, which seems to remain data dependent.

Key quotes

“US economy, Fed policy in a good position.”

“Well positioned to weather the COVID-19 storm.”

“It remains to be seen if more Fed action will be needed”

“Will watch the data.”

Earlier on the day, Daly said that the US economy is not out of the woods, needs more fiscal support to help heal the economy.

Market reaction

The US dollar index holds onto the recovery gains above 93.50, gathering pace for the next push higher. The spot is flat on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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