Fed’s Daly says inflation bumps along the way are not particularly surpsising

Federal Reserve Bank of San Francisco President Mary Daly:

• Recent inflation data was not surprising
• Inflation bumps
  along the way isn’t particularly surprising
• Don’t want to end up
  with too-strong, or too-weak policy response

Daly gets a little more sensible with these:

• Worst thing to do is
  act urgently when urgency isn’t necessary
• Inflation above
  target, need to be confident it’s on the way to target before can
  react
• No urgency to cut rates

More:

• Can’t just look at published information, that’s backwards looking
• Economy growing at a solid rate, labour market is still strong, inflation above target
• Our progress on inflation has been significant, but we are still not there yet

This article was written by Eamonn Sheridan at www.forexlive.com.