In an interview with CNBC on Thursday, San Francisco Federal Reserve President Mary Daly said it was too early to declare victory over inflation, Reuters reported.
Other comments
“It’s hard to say that wage growth is going to drive inflation down.”
“We still have an economy with a lot of momentum.”
“We have to raise rates into restrictive territory.”
“The effects of the policy must pass through the system.”
“As inflation starts to come down, we can start lowering the nominal rate to bring real rates to a neutral level.”
“We want to start heading towards neutral as we get closer to 2% inflation.”
“Right now, all my attention is on deciding if and how much more we need to raise to really get inflation down to 2%.”
Market reaction
These comments did not help the dollar find demand. As of this writing, the Dollar Index is down 0.55% on the day and stands at 100.00.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
