Economics
Daly Says Fed Is ‘Far From Done Yet’ on Bringing Inflation Down
- ‘We need to leave our minds open’ for September meeting
- Suggests 50 basis points isn’t only option on the table
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San Francisco Fed President Mary Daly suggested a 50 basis-point rate increase isn’t locked in at the US central bank’s next policy meeting, saying the Federal Reserve is “far from done yet” in bringing down inflation.
“Absolutely -- and we need to be data-dependent,” Daly said on CBS’s “Face the Nation” when asked about the likelihood of a half percentage-point increase by the Fed in September. “We need to leave our minds open. We have two more inflation reports coming out, another jobs report.”