(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Monday said she remains encouraged about the economic trajectory despite a report Friday showing fewer-than-expected job gains last month, adding the economy is a state of “transition” and still needs plenty of monetary policy support.
“We are a long way from normalization,” Daly told Yahoo Finance. Asked if the Fed should start thinking about reducing its $120 billion a month in bond purchases, she said, “not yet.”
(Reporting by Ann Saphir, Editing by Franklin Paul)
