Federal Reserve Bank of San Francisco President Mary Daly said on Monday that she is more confident US inflation is on course to the Fed's 2% target, per Reuters.
Fed eral Reserve Bank of San Francisco President Mary Daly said on Monday that she is more confident US inflation is on course to the Fed 's 2% target, per Reuters. Key quotes Risks to Fed 's mandates are getting in more balance. Minds are open to cutting rates in coming meetings. Concern is that we will deteriorate from current place of balance in jobs report; we don't see that right now. July jobs report reflected a lot of temporary layoffs, hurricane effect.
If react to one data point, we would almost always be wrong. A 'steady in the boat' approach works well. Policy needs to be pro-active. We hear the economy is down shifting. People are getting inflation relief, but still above 2% target. Not seeing a move to widespread layoffs yet, that would be an early warning sign. none of the labour market indicators she looks at are flashing red at present, but she is monitoring carefully. Fed is prepared to act as we get more information.
Centralbanks Unitedstates Macroeconomics Interestrate
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Francisco Fed President Daly sees interest rate cuts coming as labor market weakensProgress on inflation and a clear slowdown in hiring likely will drive the Fed to some extent of policy easing, Daly said Monday.
Read more »
San Francisco Fed President Daly sees interest rate cuts coming as labor market weakensProgress on inflation and a clear slowdown in hiring likely will drive the Fed to some extent of policy easing, Daly said Monday.
Read more »
Fed's Dudley now calling for Fed rate cut next week amid recession concernsFed's Dudley now calling for Fed rate cut next week amid recession concerns
Read more »
Opinion: California farmers are fed up with federal wage regulationsCalifornia has a reputation for having unfriendly regulatory and tax policies. Look no further than the new $20 an hour minimum wage for fast food restaurants. The policy has already forced restaur…
Read more »
Federal Reserve: Crypto Reacts to Fed's Crucial Market CommentsFed officials have delivered key remarks with implications for crypto market
Read more »
Chicago Fed President Goolsbee says if economy deteriorates, Fed will 'fix it'Chicago Federal Reserve President Austan Goolsbee spoke Monday morning on CNBC's 'Squawk Box' program.
Read more »