The U.S. central bank is unlikely to pull back on its bond-buying stimulus this year, San Francisco Federal Reserve Bank President Mary Daly said in an interview with the Wall Street Journal.
Daly told the journal she continued to expect the U.S. economy to pick up speed over the second half of the year as vaccinations against COVID-19 roll out and allow the economy to recover from the pandemic. But she added that it won't yet be time for the central bank to pull back on its $120 billion a month in bond buying.
"For now, we have policy in a good place," Daly said. "If you take the lens of my modal outlook, then it's really continuing to purchase at the current pace through the end of this year."
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