Fed’s Daly Says Time to Consider Reducing Stimulus Later This Year

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Jul 2 (Reuters) – San Francisco Federal Reserve Chair Mary Daly said the US central bank could begin to reduce its extraordinary support for the US economy “a little” later this year.

“The economy is really shaping up very well,” Daly told the Associated Press in an interview, a recording that was provided to Reuters by the San Francisco Fed. “It is appropriate to consider reducing asset purchases later this year or early next year.”

“That period has been evolving, of course, but I really see that the economy can start to function more and more on its own, which means that we can withdraw some of our support, of course not most,” he added.

(Reporting by Ann Saphir. Edited in Spanish by Rodrigo Charme)

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