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- Fed's Daly: Not concerned about over cooking things on rate hikes
Fed's Daly: Not concerned about over cooking things on rate hikes
San Francisco Fed President Mary Daly said on Friday that she is cont concerned above "over cooking things" on rate hikes, as reported by Reuters.
Additional takeaways
"Consumers continue to spend."
"Labor market remains strong."
"Inflation is too high."
"Fed is working on getting down inflation without stalling economy."
"Inflation has lasted longer than hoped, that's because covid is still rampant, and the war."
"Price of gas is a market-based price, based on supply and demand."
"We are dialing back support to economy."
"July meeting will be a good discussion."
"Bringing down inflation will help Americans."
"We're not talking about raising rates to extreme highs, more like in the 3% range."
"I don't expect mortgage rates to keep marching up as they have been."
"It's a little painful now, but better in the long run."
"This will cool the frothy housing market."
"We are starting to see signs that inflation is coming down."
"UOM data on consumer inflation expectations was a good thing."
"I want inflation to be less painful by end of the year than it is now."
"I don't have recession high on list of possible outcomes."
"Job market is very strong."
Market reaction
The US Dollar Index stays deep in negative territory near 108.10 following these comments.
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