Fed's Daly: Not the right time to start talking about policy normalization

San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that she expects a transitory rise in prices, as reported by Reuters.

Additional takeaways

"A little inflation would be good for us."

"The right time to reduce support for the economy is when we are much closer to goals."

"We've only had a couple of good months of data."

"We are a long way from goals, not the right time to start talking about policy normalization."

"We are a long way from doing it but I expect to taper the bond-buying program before raising rates."

Market reaction

US Dollar Index showed no immediate reaction to these comments and was last seen gaining 0.32% on a daily basis at 91.25.