Fed's Daly: still plenty of work to do, but economy is in a good place
Source Fxstreet
San Francisco Federal Reserve (Fed) President Mary C. Daly hit newswires for the second time on Friday, expanding on statements she made during an interview with Fox Business earlier in the day.
Read more: Fed's Daly says shifts in labor market could trigger policy adjustments
Key highlights:
- Fed policy remains in a good place, as does the US economy.
- Need to be patient, there's still plenty of work to do.
- Fed doesn't want to loosen policy too soon or try to squeeze out inflation too fast.
- 2024 will be a focus on policy calibration.
- Easing too quickly or before 2% target is reached would be too scarring.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The Fed held at 3.75%–4.00% — and two officials voted to hike. December is now 85% pricedThe FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.
The FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 2, 2026. Read on for the details.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 3, 2026. Read on for the details.
Gold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
Brent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
Related Instrument
