Federal Reserve's Mary Daly emphasizes the lack of surprise in recent inflation data, noting significant progress but not yet reaching the target. Daly cautions against unnecessary urgency in lowering interest rates and stresses the importance of confidence in inflation before reacting to above-target levels. She highlights solid economic growth, a strong labor market, and inflation above target, warning against overly strong or weak policy responses. Daly also addresses the uncertainty around the R-star and the need for more housing to solve housing issues, stating that briding inflation won't help.
"Fed’s Daly Says No Urgency to Cut, Policy in a Good Place" | Imagine if the Fed kept rates unchanged for the next five years. We'd no longer need monetary economists. Maybe replace them with AI bots? Maybe... @markets
Fed should not act urgently to cut rates unless required, Daly says - Reuters https://t.co/HAfNGbDGRE
There is ‘no urgency’ to cut US interest rates, according to Mary Daly, president of the San Francisco Federal Reserve Bank, with the economy and labor market strong, and inflation still above the Fed's target of 2% https://t.co/3INGKxqZzc
There is ‘no urgency’ to cut US interest rates, according to Mary Daly, president of the San Francisco Federal Reserve Bank, with the economy and labor market strong, and inflation still above the Fed's target of 2%. More here: https://t.co/itfxFwkr5E
Fed San Francisco President Mary Daly reiterates there’s no urgency to adjust interest rates, pointing to solid economic growth, a strong labor market and still-elevated inflation https://t.co/RU9kt7b1vq
US Fed should not act urgently when it's not required, Daly says https://t.co/U1CUPb4JkN https://t.co/W2X1RaPQ79
FED'S DALY: THERE'S NO WAY I WOULD SUPPORT CHANGING 2% INFLATION GOAL WHEN WE HAVEN'T ACHIEVED IT
FED'S DALY: SO FAR DONT' SEE DIRECT IMPACTS OF GEOPOLITICAL TENSIONS ON U.S. ECONOMY
FED'S DALY: OPPOSES CHANGING 2% INFLATION GOAL BEFORE ACCOMPLISHING IT
FED'S DALY: NO DIRECT IMPACT OF GEOPOLITICAL TENSIONS ON US ECONOMY SO FAR
⚠️ US FED SHOULD NOT ACT URGENTLY WHEN IT'S NOT REQUIRED, DALY SAYS Full Story → https://t.co/ZOjfOfw4SP https://t.co/XKx8tsWtCB
FED'S DALY: LABOR FORCE SUPPLY INCREASE WOULD BE AN UPSIDE SURPRISE, BUT I CAN'T COUNT ON IT TO MAKE POLICY
FED'S DALY: UPSIDE SURPRISE IN LABOR FORCE SUPPLY, BUT CAN'T RELY ON IT FOR POLICY-MAKING
FED'S DALY: REASONABLE TO THINK R-STAR IS BETWEEN 0.5 AND 1
FED'S DALY: WE DON'T KNOW IF R-STAR HAS RISEN
FED'S DALY: R-STAR LIKELY BETWEEN 0.5 AND 1
*DALY: US HAS A LARGE IMBALANCE OF HOUSING, FED CAN'T FIX THAT
FED'S DALY: UNCERTAIN IF R-STAR HAS INCREASED
FED'S DALY: BRIDLING INFLATION WON'T SOLVE THE HOUSING PROBLEM; WE NEED MORE HOUSING
FED'S DALY: MORE HOUSING NEEDED TO SOLVE HOUSING PROBLEM, BRIDLING INFLATION WON'T HELP
FED'S DALY: RECENT INFLATION DATA WAS NOT SU
FED'S DALY: INFLATION BUMPS ALONG THE WAY ISN'T PARTICULARLY SURPRISING
FED'S DALY: DON'T WANT TO END UP WITH TOO-STRONG, OR TOO-WEAK POLICY RESPONSE
FED'S DALY: WORST THING TO DO IS ACT URGENTLY WHEN URGENCY ISN'T NECESSARY
FED'S DALY: INFLATION ABOVE TARGET, NEED TO BE CONFIDENT IT'S ON THE WAY TO TARGET BEFORE CAN REACT
FED'S DALY: CAN'T JUST LOOK AT PUBLISHED INFORMATION, THAT'S BACKWARD LOOKING
FED'S DALY: NO URGENCY TO CUT RATES
FED'S DALY: ECONOMY GROWING AT SOLID CLIP, LABOR MARKET IS STILL STRONG, INFLATION ABOVE TARGET
FED'S DALY: OUR PROGRESS ON INFLATION HAS BEEN SIGNIFICANT, BUT STILL NOT THERE YET
FED'S DALY NOTES SIGNIFICANT PROGRESS ON INFLATION, BUT STILL NOT THERE YET
FED'S DALY SEES SOLID ECONOMIC GROWTH, STRONG LABOR MARKET, AND INFLATION ABOVE TARGET
FED'S DALY SEES NO NEED TO LOWER INTEREST RATES URGENTLY
FED'S DALY: BACKWARD-LOOKING TO ONLY CONSIDER PUBLISHED INFORMATION
Fed's Daly: Inflation Bumps Along The Way Isn't Particularly Surprising - Worst Thing To Do Is Act Urgently When Urgency Isn't Necessary - Inflation Above Target, Need To Be Confident It's On The Way To Target Before Can React
FED'S DALY: CONFIDENCE IN INFLATION REACHING TARGET NECESSARY BEFORE REACTING TO ABOVE-TARGET LEVELS
FED'S DALY WARNS AGAINST UNNECESSARY URGENCY
FED'S DALY CAUTIONS AGAINST OVERLY STRONG OR WEAK POLICY RESPONSE
FED'S DALY: INFLATION BUMPS ALONG THE WAY NOT PARTICULARLY SURPRISING
FED'S DALY: INFLATION DATA LACKS SURPRISE
“There’s absolutely, in my mind, no urgency to adjust the policy rate,” Daly said Friday at an event in San Francisco. “Policy is in a good place right now, and I need to be fully confident that inflation is on track to come down to 2% — which is our definition of price stability… https://t.co/j8Kjk2qfbE
Fed's Daly: absolutely no urgency to cut US interest rates https://t.co/cQgrcwhcmw https://t.co/flgaOouDSG
"There’s absolutely, in my mind, no urgency to adjust the policy rate," Federal Reserve Bank of San Francisco President Mary Daly says at an event in San Francisco https://t.co/9PnX2zYj4W https://t.co/RfmxI0L420
⚠️ FED'S DALY: ABSOLUTELY NO URGENCY TO CUT US INTEREST RATES Full Story → https://t.co/14GrCvo716 San Francisco Federal Reserve President Mary Daly said on Friday there is still "a lot of work to do" to make sure inflation is on track to the Fed's 2% goal, and there is… https://t.co/wAt8jbUNeq
San Francisco Fed President Mary Daly said there is absolutely no urgency to adjust interest rates given a strong labor market, robust consumer spending, and a slower pace of moderation in inflation. https://t.co/GYb1hHUgBu
Daly says no need for cut any time soon... Federal Reserve Bank of San Francisco President Mary Daly said there is absolutely no urgency to adjust interest rates given a strong labor market, robust consumer spending, and a slower pace of moderation in the inflation rate in…