Federal Reserve Bank of San Francisco President Mary Daly:
- Recent inflation data was not surprising
- Inflation bumps
along the way isn’t particularly surprising - Don’t want to end up
with too-strong, or too-weak policy response
Daly gets a little more sensible with these:
- Worst thing to do is
act urgently when urgency isn’t necessary - Inflation above
target, need to be confident it’s on the way to target before can
react - No urgency to cut rates
More:
- Can’t just look at published information, that’s backwards looking
- Economy growing at a solid rate, labour market is still strong, inflation above target
- Our progress on inflation has been significant, but we are still not there yet
This article was written by Eamonn Sheridan at www.forexlive.com. Source