Fed’s Daly: We need to go at a slower pace

Matías Salord FXStreet

Federal Reserve Bank of San Francisco President Mary C. Daly said on Friday that the Fed kept interest rates unchanged this week in recognition that “we are closer to our destination”. She added that inflation is coming down, and the labor market is gradually adjusting.

Regarding interest rates, Daly mentioned that they do not know if they need to hold interest rates at their current level or introduce more monetary tightening.

Market reaction

The US Dollar Index is holding onto weekly gains, hovering around 105.45, after being unable to consolidate above 105.50.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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