Fed’s Daly: Inflation is subdued in part because of global factors

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Inflation in the US is subdued in part because of global factors and it should reach a sustainable 2% in 2021, San Francisco Fed President Mary Daly argued on Wednesday.

Daly further noted that she expects the Gross Domestic Product (GDP) to expand by 2% and unemployment to stay steady in 2020.

These comments don’t seem to be having a noticeable impact on the greenback’s performance. As of writing, the US Dollar Index was down 0.2% on the day at 97.20.

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