- We have a long way to go on task
- We're looking for incoming data to decide if we can downshift the rate hikes or continue at current pace
Daly is a dove and a mouthpiece for Powell so hawkish comments carry some weight. The market is reacting too with yields pushing higher. US 10-year yields are now back over 2.60% from a low of 2.525% earlier
Unless I hear a specific pushback on rate expectations for 2023, I don't think it changes the path of rates.
