Today, Mary Daly, San Francisco Federal Reserve president, says ”we need to be impatient about resolving problems like racial justice, climate change; but also patient enough to do incremental steps.”
She explained that there are systemic barriers to certain groups; cdfis, minority-owned banks, fintechs can help reach and that they have learned from last crisis that it’s better to act boldly than to keep power dry.
Daly has maintained that the Fed’s policy, including interest rates and the pace of asset purchases by the Federal Reserve, are in a good place, throughout the pandemic.
However, she has advocated that more fiscal stimulus may be needed to ensure that households and state and local governments are able to recover.
“These two things need to come together or else we will have an incomplete solution,” Daly said during a webcast interview with the Wall Street Journal last month.
There has been no market reaction to day’s comments as the focus stays with the vaccine developments which boosted risk sentiment and the US dollar on Monday.
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