San Francisco Fed President Daley said it was “premature” to think a rate cut was imminent. He said he needed to see further evidence that inflation was on track to gradually return to 2% before easing policy.
In an interview on FOX Business on the 19th, the governor said, “I think it is appropriate to look ahead and ask when policy adjustments will be necessary in order not to choke the economy, but it is premature to think that it will that happens. soon.”” he said.
Daley said the central bank needed to see more evidence of consistent and sustained returns to 2% inflation to be confident enough to start adjusting interest rates. The governor has voting rights at this year’s Federal Open Market Committee (FOMC) meeting.
news-rsf-original-reference paywall">Original title: Fed’s Daly Says It’s Premature to Think Rate Cuts Around Corner (excerpt)
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