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MNI BRIEF: Fed's Daly Reiterates No Urgency To Cut Rates

(MNI) WASHINGTON
USPolicy NewsCentral Bank NewsHomepageFederal ReserveBriefStoryRegionNorth America

San Francisco Federal Reserve President Mary Daly reiterated Monday there is no urgency to lower interest rates, as inflation is still high and the labor market shows no signs of faltering.

"The worst thing we can do right now is act urgently when urgency is unnecessary. Policy is in a good place right now," she said at a Stanford University event. "We can respond as the economy evolves. The labor market is not giving us any indication it is faltering and inflation is still above our target. We need to be confident it is on path to come down to our target before I would feel the need to react." (See: MNI INTERVIEW: One Fed Cut Most Likely 2024 Outcome-Keister)

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San Francisco Federal Reserve President Mary Daly reiterated Monday there is no urgency to lower interest rates, as inflation is still high and the labor market shows no signs of faltering.

"The worst thing we can do right now is act urgently when urgency is unnecessary. Policy is in a good place right now," she said at a Stanford University event. "We can respond as the economy evolves. The labor market is not giving us any indication it is faltering and inflation is still above our target. We need to be confident it is on path to come down to our target before I would feel the need to react." (See: MNI INTERVIEW: One Fed Cut Most Likely 2024 Outcome-Keister)