U.S. economy, Fed policy in a 'good position,' Daly says

FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir./File Photo

SAN FRANCISCO (Reuters) – The U.S. Federal Reserve’s vow to keep interest rates near zero for what could be years is “appropriate” for now, though more action could be needed as the recovery proceeds, San Francisco Fed President Mary Daly said on Tuesday.

“We’ve got the economy and the policy in a good position right now,” Daly told reporters on a call. “I see us as well positioned to weather this storm we are in, and it remains to be seen if more will be needed … I’ll continue to watch the data and see if adjustments will be necessary.”

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