Federal’s Daly, Do Not Want to Tip Economy Into Downturn

Federal’s Daly, Do Not Want to Tip Economy Into Downturn
San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco on July 16, 2019. Ann Saphir/Reuters
Reuters
Updated:

San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that the U.S. central bank is “resolute” about bringing down high inflation but also wants to do so “as gently as possible” so as not to drive the economy into a downturn.

It is important, Daly said at a symposium held jointly with the Monetary Authority of Singapore, “to navigate through this high inflation environment as carefully as we can, so that we don’t leave longer term damage to our labor market.”