Fed's Daly: Premature to think rate cuts are around the corner
|San Francisco Federal Reserve Bank President Mary Daly said on Friday that she believes the central bank has a lot of work left to do on bringing inflation back down to the Fed's 2% target and it’s too early to think interest-rate cuts are around the corner.
Key quotes
“We have a lot of work left to do on inflation.”
“It's premature to think rate cuts are around the corner.”
“Far too early to declare victory.”
“We need to get inflation on a consistent trajectory to 2%, need more evidence to feel confident to adjust policy rate.”
“Any early signs that the labor market could falter could also trigger policy adjustment.”
“Important to look at any rise in delinquency rates as an early sign of economic weakness.”
Market reaction
The US Dollar Index (DXY) is trading lower on the day at 103.24, as of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.