6/22, 8:11 PM (Source: TeleTrader)
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Fed's Daly: Appropriate to discuss tapering, but 'not there yet'

San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that it's appropriated for the bank to go into discussions about slowing down the pace of asset purchasing, but the economy is "not there yet" for that kind of decision, "even talking about interest rate changes is not on the table."

Daly noted that the Fed officials are looking to the fall data to get more clarity on the status of the economy and its developments. As of now, the threshold for tapering may be reached in late 2021 or early 2022.

As for price pressures, Daly stated that inflation could run close to 3% in the near term and the data is expected to stay volatile in the next few months. Additionally, she mentioned that Fed's Mortgage Bond Buying has little direct impact on home-buying costs.

Breaking the News / LH