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Daly Sticks With Central Message

FED

Comments from San Francisco Fed President Daly (’24 voter) during the NY-Asia crossover offered little new but underscored the broad resoluteness on the Fed when it comes to tackling inflation.

  • Daly noted that higher rates are needed to shift the U.S. economy onto a stable path (deeming the projected rate hikes in the dot plot as “necessary and appropriate”), while stressing that a deep recession is not needed when it comes to the Fed meeting its goals.
  • She also underscored her support for the higher for longer mantra re: interest rates.
  • Daly pointed to synchronised global monetary tightening as a key driver for financial markets.
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Comments from San Francisco Fed President Daly (’24 voter) during the NY-Asia crossover offered little new but underscored the broad resoluteness on the Fed when it comes to tackling inflation.

  • Daly noted that higher rates are needed to shift the U.S. economy onto a stable path (deeming the projected rate hikes in the dot plot as “necessary and appropriate”), while stressing that a deep recession is not needed when it comes to the Fed meeting its goals.
  • She also underscored her support for the higher for longer mantra re: interest rates.
  • Daly pointed to synchronised global monetary tightening as a key driver for financial markets.