FED Officials: No Need to Worry About Inflation Now

WikiFX News (11 July),San Francisco Fed president Mary Daly and Richmond Fed president Thomas Barkin stated that there is no need to worry about high inflation during the COVID-19 crisis.

Both are Fed officials, but they don’t have the right to vote in the Federal Open Market Committee this year.

“Apparently, our balance sheet has been expanded a lot, but in fact I don’t worry that this will lead to inflation”, said Barkin. And Daly claimed, “The pressure of inflation has been decreasing globally before the outbreak of coronavirus. And we failed to keep the inflation at a stable rate of 2%, so did other countries worldwide”.

Daly added, “slight inflation is not bad for the US. And I don’t worry about it that much”. She said that the Fed can take corresponding measures to deal with it, if inflation appears.

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