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- Fed's Daly: 50 or 75 bps hike reasonable for September
Fed's Daly: 50 or 75 bps hike reasonable for September
In an interview with CNN on Thursday, San Francisco Fed President Mary Daly reiterated that it was way too early to declare victory on inflation, as reported by Reuters.
Daly further noted that core services inflation was still rising while adding that they will continue to raise the rates to "right-size it." Regarding the September rate decision, Daly said either a 50 basis points or a 75 basis points hike would be appropriate.
Market reaction
The US Dollar Index edged slightly higher on these comments and was last seen rising 0.12% on the day at 106.78.
Additional takeaways
"When we get closer to the meeting will make a decision on the September rate hike."
"We need to get rate a little more above 3% next year."
"We need to bridle economy a bit, slow pace of inflation."
"The markets have a lack of understanding, but consumers understand, that rates won't go down right after they go up."
"The raise and hold strategy pays off."
"A hump-shaped path for rates is not what's on my mind."
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