(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday said the U.S. economy is “closing in” on the U.S. central bank’s two goals of full employment and 2% inflation, at least in the short run.
“There’s a difference in the short run and the long run…balancing those things as we move forward in 2022 will be the critical point of business for monetary policy,” Daly said at a Bank of Ireland virtual event. While the labor market “looks like it’s very strong,” she said, the economy is supporting millions of jobs fewer than it did pre-pandemic as women and older workers stay out of the labor force due to COVID constraints.
(Reporting by Ann Saphir)
