Fed's Daly: Monetary policy is in a good place, more fiscal help needed

FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir

(Reuters) - Monetary policy, including interest rates and the pace of asset purchases by the Federal Reserve are in a good place, but more fiscal stimulus may be needed to ensure that households and state and local governments are able to recover, San Francisco Fed President Mary Daly said Thursday.

“These two things need to come together or else we will have an incomplete solution,” Daly said during a webcast interview with the Wall Street Journal. Daly declined to say which conditions she thinks should be met before the Fed should adjust the pace of its asset purchases, adding that she didn’t want to “front run any deliberations” that could take place during policy setting meetings.

Reporting by Jonnelle Marte; Editing by Chizu Nomiyama