Fed's Daly: Returning inflation to target remains top priority

Agustin Wazne FXStreet

Mary Daly, President of the Federal Reserve Bank of San Francisco, said on Thursday that inflation remains the Federal Reserve's (Fed) primary concern, while emphasizing uncertainty around the economic outlook and the future path of interest rates. Speaking in an interview with Bloomberg TV, Daly noted that although there are similarities between the current environment and the 1990s, policymakers should not assume the economy will follow the same trajectory.

Key takeaways

Just because we have similarities to the 90s doesn't mean it will be the 90s.

On rate path, we don't know how the economy will play out.

Policy is in a good place.

Prepared to respond either way.

Forward guidance not good at this juncture.

Hard to say labor market has firmed.

Labor market is resilient, we've stabilized.

Most worrying today is getting inflation back to target, number one priority."

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.23%	-0.13%	-0.10%	-0.01%	-0.15%	-0.20%	-0.41%
EUR	0.23%		0.08%	0.13%	0.21%	0.05%	-0.07%	-0.19%
GBP	0.13%	-0.08%		0.06%	0.13%	-0.02%	-0.14%	-0.28%
JPY	0.10%	-0.13%	-0.06%		0.06%	-0.09%	-0.23%	-0.34%
CAD	0.01%	-0.21%	-0.13%	-0.06%		-0.15%	-0.28%	-0.40%
AUD	0.15%	-0.05%	0.02%	0.09%	0.15%		-0.11%	-0.21%
NZD	0.20%	0.07%	0.14%	0.23%	0.28%	0.11%		-0.13%
CHF	0.41%	0.19%	0.28%	0.34%	0.40%	0.21%	0.13%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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