Mary Daly, president of the Federal Reserve Bank of San Francisco, said the factors driving up US inflation could begin to fade in early 2022.
"the impact of these temporary factors is likely to last until the end of the year," Daly said on Friday. "it will fade at the beginning of next year. It is hard to say how many factors will disappear, or whether there will be other bottlenecks as the economy begins to recover and recover. "
Daly, which has the right to vote on policy this year, said inflation was expected to remain high throughout the year, with a lot of upward pressure on prices, including shipping and semiconductor supply chain bottlenecks and base effects.
Daly said that the current monetary policy position is appropriate, and policy makers need to be patient, as more than 8 million people are still unemployed compared with before the COVID-19 epidemic. She said that although there were some "bubbles" in the financial markets, they were generally in good condition.