Fed's Daly: Unlikely to see unwanted surge in inflation

San Francisco Federal Reserve Bank President Mary Daly noted on Thursday that they are still far from the Fed's inflation and employment goals, as reported by Reuters.

Additional takeaways

"Will discuss an approach to normalization when we get to a point when it's appropriate to discuss, we are not there yet."

"We are unlikely to see an unwanted surge in inflation."

"We have tools to keep inflation down; our constraints are getting it back up, and addressing employment shortfalls."

"We are starting to see more normal activity resume."

"We are going to see a big rebound in the economy in the second half, jobless numbers fall, spending rise."

"It will take some time to reach full employment, price stability goals."

"Fed remains fully committed to price stability."

Market reaction

The US Dollar Index ignored those comments and stays flat on the day at 91.63.