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The Federal Reserve’s policy is in a really good place, San Francisco Federal Reserve President Mary Daly told CNBC on Tuesday.

Additional takeaways

“Vaccine is welcome news but rising cases are a top priority.”

“Need to continue to support American people as we move through this virus.”

“Fed policy can adapt to changes in the economy.”

“Expecting a slower pace of growth ahead.”

“Fiscal support is critical, more fiscal aid is needed.”

“Economy would have slower growth in the absence of fiscal aid.”

“Fed is discussing what more should be done, what more might be needed.”

Market reaction

These remarks don’t seem to be having an impact on market sentiment. As of writing, the S&P 500 Index was down 0.45% on the day at 3,535.