Fed's Daly holds the line on cautious Fed approach amid price volatility
Source Fxstreet
Federal Reserve (Fed) Bank of San Francisco President Mary C. Daly noted on Thursday that, despite overall progress on inflation and price stability, price pressures still remain a key issue for the Fed, making it difficult to move policy rates amid ongoing turmoil at the outer edges of economic data.
Key highlights
Still have some work to do on inflation.
We have solid growth, solid labor market.
What's bothersome still is we haven't achieved price stability.
Focus is on inflation; other things don't distract us.
Policy, economy in a good place.
Rates have been restrictive for a significant number of years.
June's Consumer Price Index (CPI) showed some of effect of tariffs.
Other parts of inflation are coming down.
More to come...
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
West Texas Intermediate (WTI) Oil price extends its losing streak for the fourth successive day, trading around $65.30 during the European hours on Thursday.
The EUR/USD pair is trading lower on Thursday, with investors averse to risk after a turbulent US session on Wednesday as tensions between US President Donald Trump and Fed Chair Jerome Powell escalated.
Following Wednesday's volatile action, the US Dollar (USD) gathers strength against its rivals early Thursday.
Oil prices climbed on Thursday early trade, reversing losses from the previous session after data showed stronger demand in top consuming nations.
After rising rapidly over the weekend to hit new all-time highs, the Bitcoin price seems to have hit a brick wall above $120,000, sparking a correction.
