SF Fed Pres. Daly: US economy is in a good place

After SF Fed Daly gave a speech, she is answering questions and says:

• The economy is in a good place.
• GDP growth, labor market solid.
• Inflation is coming down over time, quite bumpy.
• No reason to be discouraged about inflation progress, but taking longer than anyone wants.
• Fed policy remains restrictive.
• Asked if there will be more rate cuts this year, says the world is uncertain.
• Needs to remain restrictive until I see that we are really continuing to make progress on inflation.
• We want to be careful before we make the next adjustment that there is enough pressure on inflation.
• Also do not want to shortchange labor market.
• Need more information, don’t want to urgently get to an answer that we would regret.
• We do not know scope, magnitude or timing of new administration’s policies.
• Policy is in a very good place can easily move when needed.

“Steady as she goes” is her general view as uncertainty dictates staying pat.

Mary Daly is not a voter in 2025 or 2026

This article was written by Greg Michalowski at www.forexlive.com.