Federal Reserve Bank of San Francisco President Mary Daly says she could support more quickly ending the central bank's asset purchase program. Since the depths of the pandemic, the Fed has been buying about $120 billion in U.S. Treasuries and agency mortgage-backed securities to signal its commitment to supporting the economy.

This month, the Fed said the economy appeared to make substantial further progress in the recovery. The Fed began slowing those purchases at a clip of about $15 billion per month. But Daly told Yahoo Finance that if the November jobs report and the Consumer Price Index read on inflation show no reversal of existing trends, she would support paring back those purchases.

Daly is a voting member of this year’s committee. His remarks follow commentary from other Fed officials who have similarly suggested that they would be open to accelerating the pace of taper. Richmond Fed President Tom Barkin told Yahoo Finance on Nov. 15 that he would like to see more data as well.

Daly said accelerating the taper process would allow the Fed to push for a “normalization of policy” She said the FOMC will have to submit her projections for where interest rates could be headed over coming years. “I lost the 'go early' part but we can still go faster,” Daly said.
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