Fed's Daly: Contacts say consumers are stepping back

• We want to see the economy slow
• Consumers are preparing for a slower economy, that's a good start
• Want to get back to a sustainable pace of growth
• Pausing is off the table right now, discussion is on the pace
• We're focusing on the terminal rate
• A high of 4.75-5.25% is reasonable
• After determining the high, we'll have to determine how long to hold
• Very focused on economic data Economic Data Economic data typically comes in the form of news releases that are disseminated daily. This information is extremely valuable to retail and institutional forex traders, given the influence such data has on currency rates.Most of the major economic events that are released are reported by sovereign governments throughout the globe. Moreover, there are several economic data points that are released by private organizations that can also move the market.By and large, when new information becomes a Economic data typically comes in the form of news releases that are disseminated daily. This information is extremely valuable to retail and institutional forex traders, given the influence such data has on currency rates.Most of the major economic events that are released are reported by sovereign governments throughout the globe. Moreover, there are several economic data points that are released by private organizations that can also move the market.By and large, when new information becomes a Read this Term
• Global conditions are a headwind for US growth
• Business leaders are still concerned about inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term
• We're tightening into a strong economy

She argued that people tend to view recessions through the lens of the most-recent event. Because the 2008 recession was so harsh, it has people trembling in fear. She argues that it won't be that kind of event and that's a line of thinking that I agree with.