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MNI BRIEF: Inflation Dip ‘Far From A Victory’-Fed’s Daly

(MNI) WASHINGTON

Inflation is still far too high for comfort despite lower-than-expected October data, according to the SF Fed's Mary Daly.

A softer-than-expected October CPI is modestly encouraging but it’s far too soon for the Fed to declare victory in the fight against inflation that remains far too high for policymakers' comfort, San Francisco Fed President Mary Daly said on Thursday.

“This is just one piece of positive information,” she said. “It’s far from a victory, 7.7% is very limited relief,” she told a virtual Q&A hosted by the European Economics and Financial Centre.

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A softer-than-expected October CPI is modestly encouraging but it’s far too soon for the Fed to declare victory in the fight against inflation that remains far too high for policymakers' comfort, San Francisco Fed President Mary Daly said on Thursday.

“This is just one piece of positive information,” she said. “It’s far from a victory, 7.7% is very limited relief,” she told a virtual Q&A hosted by the European Economics and Financial Centre.

Keep reading...Show less