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MNI BRIEF: Fed's Daly Sees 50BPS As Base Case For Sept--BBG TV

(MNI) Washington

San Francisco Fed President Mary Daly said Thursday that in the wake of a softer-than-expected July CPI report she sees a 50 basis point interest rate hike as the most likely outcome for the Fed's September meeting, but added she is open to a larger move if inflation proves more stubborn.

San Francisco Fed President Mary Daly said Thursday that in the wake of a softer-than-expected July CPI report she sees a 50 basis point interest rate hike as the most likely outcome for the Fed's September meeting, but added she is open to a larger move if inflation proves more stubborn.

“With those numbers in hand I still think 50 basis points is the (base) case but I am open to 75 should the data evolve differently," she told Bloomberg TV. "Inflation is still too high and we still have a lot of work to do."

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San Francisco Fed President Mary Daly said Thursday that in the wake of a softer-than-expected July CPI report she sees a 50 basis point interest rate hike as the most likely outcome for the Fed's September meeting, but added she is open to a larger move if inflation proves more stubborn.

“With those numbers in hand I still think 50 basis points is the (base) case but I am open to 75 should the data evolve differently," she told Bloomberg TV. "Inflation is still too high and we still have a lot of work to do."

Keep reading...Show less