Fed's Daly says not time for taper, still far from goals

Reuters
Updated 1 min read
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April 15 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Thursday said the U.S. economy is still far from making "substantial progress" toward the central bank's goals of 2% inflation and full employment, the bar the Fed has set for beginning to consider reducing its support for the economy.

"We are not to that time yet," Daly told the Money Marketeers of New York University, noting though prices are expected to rise temporarily in coming months, inflation is still "far" from sustainably reaching the Fed's goal.

"There's just a lot of work that needs to be done."

(Reporting by Ann Saphir Editing by Chris Reese)

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