Fed’s Daly: We see domestic economy that is really solid

Dhwani Mehta FXStreet

San Fransico Fed President Mary Daly is back on the wires now, this time speaking in a Bloomberg interview.

Key Quotes:

We see domestic economy that is really solid.

Looking carefully at business investment.

Fed has tools necessary to do its job.

Need to be thoughtful about reaching inflation and jobs goals.

I do not consider political issues as a policy maker.

Markets closely watch the Fed comments, as attention turns towards the all-important September Fed meeting. Markets are pricing in a 25bps rate cut next month amid growing trade and recession fears, as indicated by the recent US yield curve inversion.

At the press time, the Treasury yields are losing 1% to 1.80% across the curve, as risk-off persists after a US Navy destroyer entered near islands claimed by China in the South China Sea on Wednesday.

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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