Fed's Daly: Bottlenecks explain both price increases and labor shortages

San Francisco Federal Reserve Bank President Mary Daly said on Tuesday she is very hopeful they will feel that they are moving out of the deep hole caused by COVID by next year, as reported by Reuters.

Additional takeaways

"Outlook is quite positive, I am bullish."

"Confident we'll get more and more vaccinated and people are ready to get out and spend."

"Bottlenecks explain both price increases and labor shortages; both likely transitory."

"Future of community banking looks far stronger now than in the past."

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen losing 0.18% on the day at 90.11.