“If you unpack the data, you don’t see inflation running up in services or housing, and importantly, you don’t see it spreading into inflation expectations. We also see a labor market that’s softening and wage growth that is moderating…I put those things together, and we don’t want to make the mistake of holding on too long for rates only to find out we’ve injured the economy,” she told Bloomberg TV’s Lisa Abramowicz. Watch or read the article here.
The Federal Reserve Bank of San Francisco (SF Fed) works to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, the SF Fed serves the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.