San Francisco Federal Reserve Bank (Fed) President Mary Daly told CNBC on Friday that slowing inflation shows the Fed’s monetary policy is working, according to Reuters.
Highlighted statements
“The Fed isn’t done yet, but the PCE data is good news.”
“We are getting evidence that the policy is restrictive enough.”
“It’s taking longer for the policy to work, but it’s working.”
“If inflation remains persistent or declines slowly, rates would have to be higher for longer.”
“If inflation falls or the labor market weakens, we can adjust policy.”
“It is too early to decide on policy.”
“We will pay attention to both sides of the Fed’s mandate.”
“Listening to business CEOs, I see that they already feel uncertain.”
“The Fed is apolitical, will not comment on the presidential debate.”
“Monetary policy is working.”
Market reaction
These comments did not have a noticeable impact on the valuation of the US Dollar. At the time of publication, the Dollar Index was down 0.05% on the day at 105.85.
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.
