Fed’s Daly Says No Urgency to Cut, Policy in a Good Place
- San Francisco Fed chief says central bank in ‘ready’ position
- ‘Worst’ thing Fed could do right now would be to act urgently
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Federal Reserve Bank of San Francisco President Mary Daly reiterated there’s no urgency to adjust interest rates, pointing to solid economic growth, a strong labor market and still-elevated inflation.
Daly said she needs to be confident inflation is heading toward the Fed’s 2% target before reacting. The San Francisco Fed chief, who votes on monetary policy this year, repeated that policy is in a “good place.”