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MNI BRIEF: Fed's Daly-Too Soon To Declare Victory On Inflation

It's too soon for the Federal Reserve to declare victory over inflation despite a better-than-expected June CPI reading this week, San Francisco Fed President Mary Daly told CNBC Thursday.

"It's too early to say that we can declare victory on inflation," she said. "This month of data is very positive, I hope it's part of a downward trend in inflation. But I remain in a wait-and-see mode on that because I remain resolute to bring inflation back down to 2%."

She repeated that two more rate hikes this year is still a "reasonable projection." (See: MNI INTERVIEW: Fed Will Likely Hike Rates Above 6%-Plosser)

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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