Fed’s Daly: Tools for next recession include Fed funds, forward guidance and balance sheet

Dhwani Mehta FXStreet

San Fransico Fed President Mary Daly is on the wires now, via Reuters, shedding light on the tools available with the US central bank for countering a recession.

Key Quotes:

Fed funds rate is our most powerful tool.

Tools for next recession include Fed funds, forward guidance and balance sheet.

Doesn't see negative rates being on the table in US now.

On the above comments, the US dollar is seen keeping its range intact near three-day tops of 97.57 against its main rivals. The greenback benefited from the risk-on rally in the Wall Street stocks and Treasury yields across the curve amid trade optimism.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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