Fed’s Daly: We have to work on price stability without overreacting

Agustin Wazne FXStreet

Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, said on Bloomberg TV on Thursday that she doesn’t see evidence that longer-run inflation expectations are up. She also claimed that wage rises are consistent with the overall 2% inflation.

Key Quotes:

Policymaker speeches clarify how FOMC could respond

Forecast scenarios may aid communication of rate outlook.

Wage rises consistent with overall 2% inflation.

I don't see evidence that longer-run inflation expectations are up.

We have to work on price stability without overreacting.

Producers and sellers still hesitant to pass on higher prices.

If conflict ends, prior positive dynamics could return.

Much depends on how long Iran conflict lasts

Real FOMC signal is everyone agreed to hold rates.

Phrasing of statement less important than FOMC action

Public knows Fed is committed to price stability.”

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 Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.08%	0.03%	0.17%	-0.03%	-0.03%	-0.07%	-0.02%
EUR	0.08%		0.10%	0.26%	0.06%	0.05%	-0.02%	0.06%
GBP	-0.03%	-0.10%		0.13%	-0.06%	-0.05%	-0.12%	-0.05%
JPY	-0.17%	-0.26%	-0.13%		-0.21%	-0.20%	-0.31%	-0.18%
CAD	0.03%	-0.06%	0.06%	0.21%		0.00%	-0.06%	0.00%
AUD	0.03%	-0.05%	0.05%	0.20%	-0.01%		-0.07%	0.00%
NZD	0.07%	0.02%	0.12%	0.31%	0.06%	0.07%		0.07%
CHF	0.02%	-0.06%	0.05%	0.18%	-0.01%	-0.00%	-0.07%

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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