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Fed’s Daly Says It’s Too Soon to Declare Victory on Inflation
Federal Reserve Bank of San Francisco President Mary Daly said it’s too soon for policymakers to say they have done enough to return US inflation to their target. “It’s really too early to say that we’ve declared victory on inflation,” she said on CNBC on Thursday. While data on consumer prices out Wednesday “is very positive,” she said she’s in a “wait-and-see mode on that, because I remain resolute to bring inflation down to 2%.” Officials are expected to raise rates by a quarter percentage point at their meeting this month after pausing their tightening campaign in June while at the same time ... (full story)