MNI BRIEF: Japan Q1 GDP To Fall 0.4% Q/Q; Annualised -1.6%

MNI BRIEF: Canada Opposition Leader Removed From Legislature

CANADA Q1 FLASH ANNUALIZED GDP +2.5%, +0.6% QOQ

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

Small upward revision to UK manufacturing PMI; little market impact

MNI: UK APR FINAL MANUFACTURING PMI 49.1 (FLASH 48.7); MAR 50.3

KOF Points Towards Ongoing Robustness But No Strong Boost

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: Fed's Daly Sees Another 75BP As Baseline For July Meeting

Source: Federal Reserve
(MNI) OTTAWA
(MNI)

San Francisco Federal Reserve President Mary Daly said Friday that a 75 basis point rate increase is a reasonable baseline for the next meeting.

Echoing Jerome Powell’s desire for expeditious tightening, Daly said rates need to move this year to a neutral rate she estimated could be around 3% today. While there may be more uncomfortable inflation readings in the next few months, the chance of expectations spiraling is quite low, she said.

“Seventy-five in July is where I’m starting” she told reporters after a speech, also referencing a half-point move if data shows the economy cooling off somewhat. Her comments are in line with ex officials who told MNI that 75 is the new rate-increase baseline. (See: MNI: Fed Sees 75bp Hike As New Baseline- Ex-Officials)
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
USPolicy NewsFederal ReserveCentral Bank NewsHomepageNorth AmericaStoryPolicy StoryRegion
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
USPolicy NewsFederal ReserveCentral Bank NewsHomepageNorth AmericaStoryPolicy StoryRegion

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.