Further comments from Fed's Daly via RTRS: -....>

FED: Further comments from Fed's Daly via RTRS:

- In a "watch and see" position on monetary policy right now. She saw the July

rate cut as a recalibration of policy and backed the move to cut rates.

- Daly also noted that she is "convinced using our tools early and pre-emptively

is better than waiting, it is better to avoid the ditch rather than dig yourself

out of the ditch"

- On the U.S. economy she noted that it is "growing at a solid pace," although

"business investments are off." She also believes that the economy is well

positioned to "continue to grow slightly above trend & reach the inflation

target," although she expressed some concern re: not reaching the 2% inflation

target.

- She flagged headwinds (somewhat predictively) including uncertainty & the

global growth slowdown.