According to Reuters citing comments made by San Fransisco Fed President Mary Daly on Bloomberg Television, Daly pushed back against the notion that the Fed should act immediately to address inflation pressures, saying that it would be premature for the Fed to change its calculation on raising interest rates. Her comments come in wake of the latest US Consumer Price Inflation report for October, which showed the headline YoY rate surpassing 6.0% for the first time since 1990. 

Further Comments 

"Inflation is high, we have a challenge right now."

"This is a transitory period."

"High inflation is not expected to persist at these rates once Covid is behind us."

"Even though it's temporary, high inflation hurts."

"Higher inflation readings have my attention."

"The number of missing jobs also has my attention."

"We need an economy that's self-sustaining once we get through Covid."

"Historically we have been too bearish, and wrong, about labor force participation."

"Americans want to work, but they are constrained by covid-related issues."

"If we raise rates now, that could be quite premature."

"It could leave the economy short on both price stability and employment."

"Uncertainty requires us to wait and watch with vigilance."

"I expect inflation to moderate."

"Continuity of Fed policy does not depend on who is in Fed chair."

"It would be premature to start asking if we should quicken the taper."

"As (the) delta variant wears off, (I) expect economy to regain momentum."

"I'm optimistic but would not surprise me if growth ahead is more moderate than what we saw earlier in year."

"Fed would not be constrained by what other central banks are doing."

"Infrastructure spending might boost inflation in short term but lower it, and boost productivity, in long term."