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.
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