Fed’s Daly Says It Isn’t Time for Fed to Pare Back Stimulus

Federal Reserve Bank of San Francisco President Mary Daly said Tuesday that while the outlook for the economy is positive, it isn’t time for the U.S. central bank to pull back on the strong levels of monetary policy stimulus it is currently providing the economy.

“We’re a long way again from achieving full employment and price stability,” Ms. Daly said in a virtual appearance, adding “it’s not really the right time to start talking about normalization” of monetary policy.