San Francisco Federal Reserve branch President Mary Daly spoke Sunday on US TV - CBS’s “Face the Nation”
Federal Reserve is “far from done yet” in bringing down inflation
- “Absolutely -- and we need to be data-dependent”
Daly was questioned about the chance of a 50bp rate hike at the Federal Open Market Committee's (FOMC) next meeting in September:
- “We need to leave our minds open. We have two more inflation reports coming out, another jobs report.”
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The background to this is the stonkin' NFP jobs gain reported on Friday:
- Daly spoke last week saying a 50 basis-point hike in September was “a reasonable thing to do"
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More:
- “Right now, I think the most important thing is that inflation is too high.”
- “Americans are losing ground every day, so the focus has to be on bringing inflation down.”
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