San Francisco Fed President Mary Daly said yesterday that with a job report like Friday’s NFP and the volatility, then, “we’re on a good path but we’re a long way from home”. “And when you’re a long way from home” she added, “it’s not yet time to start thinking about, thinking about, talking about relaxing the accommodations we’ve given.”
She also noted that “bottlenecks” like shipping costs and lumber shortages would “cause inflation to pop in the next several months”. Inflation might rise above 2% level, but that’s going to be transitory in my judgment,” Daly said.
