Remarks from Federal Reserve Bank of San Francisco President Mary Daly are here:
I think my headline is a reasonable approximation of the intent of her remarks. It was chosen under time pressure to just get the news out there.
Some of the headlines being pumped out now have taken more time, and the “narrative” chosen more carefully. Be careful to read the articles, not just the headlines, as headlines are often chosen to reflect the bias of those writing them.
Reuters have this, being retweeted by those liking this angle:
- Fed’s Daly says time is nearing for rate cuts, may need more than two
Some crypto media (who seem a bit clueless …. I’ll explain in a moment) going with:
- Daly Makes Statements About Rate Cuts: “I Can’t Wait Forever”
Why clueless? Well, this:
- Daly said that monetary policy adjustments would be discussed “immediately” at each Fed meeting going forward. However, he noted that there was still significant uncertainty about whether a rate cut would occur in September.
Daly is NOT a ‘he’. Sheesh, its not rocket science.
I haven’t seen anything from Bloomberg yet.
Liike I said, be sure to read the articles. Mine is linked above with my take on her remarks.
This article was written by Eamonn Sheridan at investinglive.com.