Mary Daly
- Recent data showing falling inflation “very, very encouraging”
- Refused to rule out rate hikes, said they should be “thoughtful, take our time, not rush to judgment and not make declarations”
- “We have to be bold enough to say ‘we don’t know’ and bold enough to say ‘we need to take the time to do it right’.”
- “What I worry about is that without a sufficient amount of information about whether we’re really on that disinflationary process that brings us back to 2 [per cent], we have to ‘stop-start’"
- A stop-start would hurt credibility
- Indicated little concern about sharp fall in yields recently
- “None of the concerns that I’m hearing are really about a dire, fall-off-the-cliff economy."
- Rate cuts are “not happening for a while”
This isn't the strongest push-back against the market, which is currently pricing in zero chance of a Fed hike going forward.
