Fed's Daly: It would be premature to say that we've achieved victory against the pandemic

Daly warns that the delta variant poses a threat to the economic recovery

She warns that one of the biggest risks to global growth moving forward is that if "we prematurely declare victory on Covid", in a media interview.

Adding that while news in the US "has been pretty positive", it isn't the case elsewhere around the globe. She chimes in on the latest market developments by saying that that could also be a factor on bond yields.

As for policy, she argues that tapering would have to come first before any further discussion on normalisation i.e. raising rates, despite suggestions that by other Fed members that there could be some overlap between the two.

The full interview can be found here.