Inflation Alert! San Francisco Fed President Mary Daly speech at the Orange County Business Council: "But the truth about policy is we have to slow the economy to bring inflation down. This is why central banking is fairly unpopular."
San Francisco Fed President Mary Daly speech at the Orange County Business Council: "But the truth about policy is we have to slow the economy to bring inflation down. This is why central banking is fairly unpopular." "we have a lot of work to do".
Source: https://www.frbsf.org/our-district/events/mary-c-daly-orange-county-business-council-keynote-2022/
Other quotes:
“there’s no one in the world who thinks 7.7% is close enough to say this is price stability. So we have a lot of work to do.”
“I think I should underline that, or say it three times .. it’s one month.” “the long-awaited decline in goods’ price inflation. But we’ll have to continue to see if that sticks.”
“We are still slowing, so that’s a bright spot in the idea of slowing is important to get the economy back into balance,”
“Whenever I say bright spot I’m always mindful that on the other side of that slowdown is a human person, a worker,”
“So we always want to be mindful of that. But the truth about policy is we have to slow the economy to bring inflation down. This is why central banking is fairly unpopular.”
“We want to restore price stability, but we want to do it as gently as we can,”
