MNI BRIEF: Daly Says Fed Adjustments Warranted At Some Point

San Francisco Fed President Mary Daly said Thursday that policy "adjustments" appear to be warranted at some point because the central bank's dual mandate goals are coming into better balance, while saying the exact timing of a move is less important than keeping the economy on track.

“I don’t see any evidence at this point that policy is not restrictive,” Daly said on a call with reporters, adding the thinking now is more about making sure the economy isn’t “too bridled.”

Officials remain resolute about getting inflation back to target and “there are reasons to believe we are heading in the right direction” even if things may get "bumpy" along the way. Daly also said it's significant to see more officials talking about the labor side of the Fed's dual mandate. Asked several times about a potential July or September rate cut, she said that kind of detailed guidance isn't that helpful for monetary policy. (See: MNI INTERVIEW: Fed Might Need Bigger Cuts If It Waits Too Long)