Comments from the Fed's Daly in the WSJ:
San Francisco Fed President Mary Daly told the WSJ that she isn't ready to make a formal call on interest rates but is certainly leaning towards the sidelines.
"If the economy evolves as I just said I expect it to-2% growth, 1.9% inflation, no sense that [price pressures are] going up, no sense that we have any acceleration-then I think the case for a rate increase isn't there" this year, she said.
Overall, she said it's too early to judge and that the best course is to wait and see.
She pointed to many headwinds emerging at once including weakness in global growth, Brexit and the US government shutdown.
"This is a good time for us to be patient especially given that inflation is relatively muted."
