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MNI BRIEF: Fed's Daly Says Too Early To Call Inflation Victory

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USPolicy NewsCentral Bank NewsHomepageFederal ReserveStoryBriefPolicy StoryRegionNorth America

The Federal Reserve can show some patience in the inflation fight but it's premature to say price stability has been restored, San Francisco President Mary Daly said Friday.

“It is far too early to declare victory,” on inflation, Daly said, and the Fed will seek to rebalance things “as gently as we can.” The economy is in a more positive place with an overheated labor market coming into better balance and inflation coming back in line, she said. Daly also said she's “completely unwilling” to move the Fed's inflation target higher than 2%. (See: MNI INTERVIEW: Fed Should Raise Inflation Target To 3%-Gagnon)

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The Federal Reserve can show some patience in the inflation fight but it's premature to say price stability has been restored, San Francisco President Mary Daly said Friday.

“It is far too early to declare victory,” on inflation, Daly said, and the Fed will seek to rebalance things “as gently as we can.” The economy is in a more positive place with an overheated labor market coming into better balance and inflation coming back in line, she said. Daly also said she's “completely unwilling” to move the Fed's inflation target higher than 2%. (See: MNI INTERVIEW: Fed Should Raise Inflation Target To 3%-Gagnon)