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San Francisco Federal Reserve President Mary Daly: Monetary Policy in Uncertain Times

Commonwealth Club of California Podcast

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The Federal Reserve Is a Blunt Tool in Our Tool Kit of Support

"Montary policy is a blunt tool, and it acts with a considerable lack so raising rates to day would do very little, almost nothing," he said. "We are well positioned to act should inflation begin to look more persistent or the labor market look to be at its full employment level." He added that not now for interest rates doesn't mean not ever for policy.

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