December 20, 2024 12:56 GMT
FED: Daly: Not Speculating On Trump Policies, High Uncertainty Generally
FED
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SF Fed’s Daly (was a ’24 voter, next set for ’27) on Bloomberg TV:
When asked about the extent of speculation around President-elect Trump’s policies in this week’s SEP and her personal stance:
- It’s about the data for me, we don’t know what the new administration is going to do. We’ve got policy and the economy in a good place and we’re prepared for whatever comes before us.
When I hear the world is more uncertain, a lot of people think that’s re the incoming administration.
- Daly: I disagree. We have a variety of risks that are the ones we always deal with. Housing inflation – substantial housing imbalance and the models say inflation will come down but we’re not sure. Labor market and consumer spending are much stronger than people would have predicted, questions over the natural rate of interest (where’s the stopping point) and geopol risk. That’s the backdrop and then of course you have the new administration.
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