The president of the Federal Reserve Bank of San Francisco, Mary Daly, stated in an interview with the Financial Times (FT) that the US central bank faces the difficult task of deciding when to stop raising rates.
Additional comments
“This next phase of monetary policy is much more difficult because there are so many things to consider.”
“Take into account the accumulated hardening that is already in the system. We must take into account the delays in monetary policy. We must take into account the risks that exist throughout the world economy and the tremendous uncertainty that we even have about what the evolution of inflation will be..”
“If I can do one thing for the public, I would say: stop thinking about rhythm and start thinking about level“.
“If I can keep it there [en un nivel elevado] for a year and actually think that inflation is going down, then that’s probably a reasonable rate to stop at. Overnight to 2% is not my goal. . . but we cannot be so patient that inflation continues to erode the real purchasing power of Americans.”
Source: Fx Street

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