Fed’s Daly: US economy and policy accommodation ‘in a good place’ right now

President and Chief Executive Officer of the  Federal Reserve  Bank of San Francisco Mary C. Daly recently crossed wires. Some of her key comments are covered as follows.

Key quotes

“US economy and policy accommodation ‘in a good place’ right now.”

“Fed is in a process of learning how to implement its ample reserves regime.”

“Business contacts tell they have an overarching level of uncertainty that won’t go away until its causes, like US-China trade tensions or Brexit, are actually resolved.”

“Low inflation also shows that labor market has more room to run than we originally thought.”

“Slower pace of growth is set to continue predicts GDP growth will average just under 2% for foreseeable future.”

“To ensured sustain expansion, Fed has adopted accommodative monetary policy with July September cuts.”

“Economy continues solid expansion with strong job growth health consumer spending. But, yet to achieve inflation goal on sustained basis with trade uncertainty driving manufacturing and business investment to soften considerably.”

FX implications

No major reaction to the news could be witnessed but the same can be considered to have a positive impact on the US Dollar (USD) while praising the United States (US) fundamentals.