Fed's Daly Says Central Bank Communication Should Be Flexible
Federal Reserve Bank of San Francisco President Mary Daly said central bankers need to communicate with flexibility at times of uncertainty, given that using strong forward guidance sometimes 'comes with a price.'
'The economy is dynamic, and our communications must match it,' Daly said Sunday in a speech prepared for the Western Economic Association International's 100th Annual Conference. Daly didn't comment on the outlook for the economy or policy in her written remarks, which she also said were not about the Fed's ongoing framework review.
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