Fed's Daly Says Premature To Think Rate Cuts Around The Corner, Says We Need To Get Inflation On A Consistent Trajectory To 2%, Need More Evidence To Feel Confident To Adjust Policy Rate
Portfolio Pulse from Benzinga Newsdesk
Fed's Daly stated in a FOX Business interview that it is premature to anticipate rate cuts and emphasized the need for inflation to consistently move towards the 2% target. More evidence is required before feeling confident to adjust the policy rate.
January 19, 2024 | 7:54 pm
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Fed's Daly's comments suggest a cautious approach to rate cuts, indicating that the Federal Reserve is focused on achieving a consistent inflation trajectory before policy adjustments.
Daly's remarks imply that the Federal Reserve is not in a hurry to cut rates, which could lead to a neutral short-term impact on the SPY as investors digest the implications for economic growth and inflation.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70