Central Banks
Fed Has ‘More Work to Do’ to Get Inflation to Goal, Fed’s Daly Says
- San Francisco Fed chief says CPI figures largely as expected
- July CPI data showed smallest back-to-back gain in two years
Mary Daly, president of the Federal Reserve Bank of San Francisco
Photographer: Haiyun Jiang/BloombergThis article is for subscribers only.
Federal Reserve Bank of San Francisco President Mary Daly said the US central bank has more work to do to control inflation even as data for July showed modest price increases.
Consumer-price data out earlier Thursday “came in largely as expected, and that is good news,” Daly, who doesn’t vote on monetary policy this year, said in an interview on Yahoo! Finance. “It is not a data point that says victory is ours. There’s still more work to do. And the Fed is fully committed to resolutely bringing inflation back down to its 2% target.”