Fed's Daly: Need to keep an open mind about further rate cuts
Federal Reserve (Fed) Bank of San Francisco President Mary Daly said on Monday that Fed policymakers need to keep an open mind about further rates cuts, per Reuters.
Key takeaways
"Fed needs to guard against inflation risks, but should not ignore possibility of productivity boom and faster non-inflationary growth."
"Tariff-driven price increases not spilling over into broader inflation."
"Balance of risks has shifted as the labor market has softened."
"Slowing job growth likely due to a drop in demand for workers, not limits on supply because of immigration policies."
"Inflation has declined but remains elevated, policy remains modestly restrictive."
"Economy has been resilient this year."
Source : Fxstreet.com
