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There's no "urgency" to adjust interest rates, Fed official says
San Francisco Fed president Mary Daly told Axios on Friday that it's not clear whether inflation is definitively receding and there is no "urgency" to adjust interest rates. Why it matters: Inflation cooled for the first time in 2024 last month, relieving economists that progress might not have stalled out. But one month of data has not convinced Fed officials that price pressures are evaporating in a way that puts near-term interest rates back on the table. What they're saying: "Fortunately, policy is in a very good place. We are in what I call the ready position," Daly told Axios at the University of San ... (full story)
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FED'S DALY: I AM NOT YET CONFIDENT INFLATION COMING DOWN SUSTAINABLY TO 2%.
— FinancialJuice (@financialjuice) May 20, 2024
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FED'S DALY: I EXPECT IMPROVEMENT IN SHELTER INFLATION, JUST NOT RAPIDLY.
— FinancialJuice (@financialjuice) May 20, 2024
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- Posted: May 20, 2024 12:04pm
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,869
