Fed's Daly: Fed needs to be mindful of possible excesses in financial markets

"Leaving millions disconnected from the economy is not good for the economy, or the nation," San Francisco Federal Reserve President Mary Daly told Washington Post on Wednesday.

"The Fed actions do boost stocks, which increases wealth inequality but can also reduce income, other inequalities," Daly added. "As the Fed shores up financial markets, needs also to be mindful of possible excesses.

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.3% on a daily basis at 97.09.