Free Trial

MNI BRIEF: Fed's Daly: 'Premature' To Say Rate Cuts Close

(MNI) WASHINGTON

Federal Reserve Bank of San Francisco President Mary Daly on Friday pushed back against market expectations for interest rate cuts soon, saying she needs to see more evidence that inflation is sustainably headed toward 2% before adjusting rates. Her comments come soon after Chicago Fed chief Austan Goolsbee also indicated rate cuts aren't yet imminent.

"There's a lot of work left to do. We're not there yet, and it's far too early to declare victory," she said in a Fox Business interview. "It's really premature to think (rate cuts) are around the corner."

Keep reading...Show less
147 words

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.

Federal Reserve Bank of San Francisco President Mary Daly on Friday pushed back against market expectations for interest rate cuts soon, saying she needs to see more evidence that inflation is sustainably headed toward 2% before adjusting rates. Her comments come soon after Chicago Fed chief Austan Goolsbee also indicated rate cuts aren't yet imminent.

"There's a lot of work left to do. We're not there yet, and it's far too early to declare victory," she said in a Fox Business interview. "It's really premature to think (rate cuts) are around the corner."

Keep reading...Show less