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Federal Reserve’s Daly says she is comforted that inflation expectations came back up after fed adopted new framework.

Key comments

Daly says economy has been amazingly resilient in face of covid, but also will have a very deep hole to dig out of.

Daly says continue to monitor financial stability, but can’t allow it to be ‘bogeyman’ that prevents us from doing our work.

Daly says not ready to pick a single number to represent maximum inclusive employment; could be dangerous.

More to come…