Federal Reserve Bank of San Francisco President Mary Daly states no urgency to adjust interest rates due to a robust labor market, strong consumer spending, and moderating inflation.
Federal Reserve Bank of San Francisco President Mary Daly says there's no urgency to adjust interest rates, citing a robust labor market, strong consumer spending, and a slower pace of moderation in inflation rates. Daly mentioned that the US central bank still has work to do before it can be confident in the direction of inflation. The market currently expects only two rate cuts this year, starting in September.
April 12, 2024
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