San Francisco Federal Reserve (Fed) President Mary C. Daly hit newswires for the second time on Friday, expanding on statements she made during an interview with Fox Business earlier in the day.

Read more: Fed's Daly says shifts in labor market could trigger policy adjustments

Key highlights:

• Fed policy remains in a good place, as does the US economy.
• Need to be patient, there's still plenty of work to do.
• Fed doesn't want to loosen policy too soon or try to squeeze out inflation too fast.
• 2024 will be a focus on policy calibration.
• Easing too quickly or before 2% target is reached would be too scarring.
• Goods and services prices are both coming down steadily.