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    Fed's Daly: Premature to think rate cuts are around the corner

    FXStreet
    Updated January 22, 2024 24:38
    Mitrade

    San Francisco Federal Reserve Bank President Mary Daly said on Friday that she believes the central bank has a lot of work left to do on bringing inflation back down to the Fed's 2% target and it’s too early to think interest-rate cuts are around the corner.



    Key quotes

    “We have a lot of work left to do on inflation.”


    “It's premature to think rate cuts are around the corner.”


    “Far too early to declare victory.”


    “We need to get inflation on a consistent trajectory to 2%, need more evidence to feel confident to adjust policy rate.”


    “Any early signs that the labor market could falter could also trigger policy adjustment.”


    “Important to look at any rise in delinquency rates as an early sign of economic weakness.”



    Market reaction


    The US Dollar Index (DXY) is trading lower on the day at 103.24, as of writing.

    * The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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