Economy

Fed’s Mary Daly says high inflation ‘is as harmful as not having a job’

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San Francisco Federal Reserve Bank chief of research Mary Daly stands near the podium before a speech at the CFA Society in San Francisco, California, U.S. July 10 2018.

Ann Saphir | Reuters

San Francisco Fed President Mary Daly is worried about inflation, telling an audience Tuesday that the high cost of living is causing a heavy burden on society.

“I understand that inflation is as harmful as not having a job,” she said, “that if you have a job and you can’t pay your bills, or I feel like I can’t save for what I need to do, then that’s keeping you up at night.”

“And our goal is to make sure that people don’t stay up worrying about whether their dollar today will be the same and worth a…



Source cnbc.com

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