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MNI BRIEF: Daly Says Dec SEP Remains Good `Baseline' Rate View

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USCentral Bank NewsPolicy NewsHomepageFederal ReserveBriefStoryRegionNorth America

San Francisco Federal Reserve President Mary Daly said Friday that the FOMC's December dot plot view for perhaps three 25 basis point interest-rate cuts this year remains a good "baseline," and recent inflation data hasn't shaken her confidence things are moving in the right direction.

The policy rate is still restrictive and inflation surprises may raise questions about how fast things normalize rather than the overall trend, she said in Q&A following a speech at the NABE conference in Washington. (See: MNI INTERVIEW: Fed Could Cut As Early As June - Quarles)

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San Francisco Federal Reserve President Mary Daly said Friday that the FOMC's December dot plot view for perhaps three 25 basis point interest-rate cuts this year remains a good "baseline," and recent inflation data hasn't shaken her confidence things are moving in the right direction.

The policy rate is still restrictive and inflation surprises may raise questions about how fast things normalize rather than the overall trend, she said in Q&A following a speech at the NABE conference in Washington. (See: MNI INTERVIEW: Fed Could Cut As Early As June - Quarles)