Fed's Daly: sees three rate cuts in 2024
Source Fxstreet
San Franciso Federal Reserve (Fed) President Mary C. Daly hit newswires on Friday, speaking at the Annual National Association for Business Economics Economic Policy Conference in Washington, DC.
Key highlights
- Three rate cuts is a reasonable baseline for 2024.
- It's premature to think about just letting the economy run.
- The challenge in front of the Fed right now is that the labor market tends to be good until it suddenly isn't, Fed needs to look at other data.
- US labor market is cooling, but Fed's Daly doesn't see an imminent weakening in the job market.
- Fed policy is working, just need to see how much longer to get the job done.
- Doesn't see disruptions from quantitative tightening, appropriate to plan.
- Fed's Daly doesn't agree with the idea that the last leg of inflation will be the hardest.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
On April 23, Eastern Time, Intel (INTC) reported its latest quarterly earnings results, showing that revenue grew 7% to $13.6 billion and earnings per share was $0.29, beating expectation
Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Friday. The precious metal attracts some sellers amid a stronger US Dollar (USD) and elevated oil prices that stoked inflation worries.
Silver Price Forecast: XAG/USD plummets below $76 as oil price posts fresh weekly highSilver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – fades an Asian session spike to the $95.80-$95.85 area, or a one-and-a-half-week top, and retreats to the lower end of its daily range in the last hour.
JPMorgan Chase has raised its year-end target for the S&P 500, noting that the core driver is not a simple recovery in sentiment, but rather upward earnings revisions for AI-related techn
Related Instrument
