San Fran Fed president ‘biased’ towards a hot economy
Gains from a hot economy disproportionately flow to disadvantaged groups, Daly says
The Federal Reserve Bank of San Francisco president Mary Daly has said she is “biased” towards running a hot US economy.
“The gains to running a hot economy disproportionately flow to groups that are historically less advantaged,” she said in remarks prepared for a conference hosted by the Reserve Bank of New Zealand and the International Monetary Fund on August 29.
She pointed to her own research, which finds that when a labour market is already strong, further strengthening can provide a
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