Mary Daly, President of the Federal Reserve Bank of San Francisco, Expresses Confidence in US Inflation Reaching 2% Target
In a recent statement, Mary Daly, President of the Federal Reserve Bank of San Francisco, expressed her confidence that US inflation is on track to reach the Fed’s 2% target. Daly highlighted the following key points:
– Risks to Fed’s mandates are becoming more balanced.
– Openness to cutting rates in upcoming meetings.
– No current signs of deterioration in the job market balance.
– July jobs report showed temporary layoffs and hurricane effects.
– Monitoring closely for any changes in the job market dynamics.
– Confidence in a gradual slowdown without a drastic decline.
– Fed committed to achieving its goals with a proactive approach.
Market Reaction:
The US Dollar Index (DXY) is currently trading 0.06% higher at 102.80.
Analysis:
Mary Daly’s comments indicate a positive outlook on US inflation and the job market balance. This could potentially lead to future rate cuts by the Fed to maintain economic stability. Investors should pay close attention to upcoming economic data releases for further insights into the Fed’s monetary policy decisions.