Fed’s Daly says inflation bumps along the way are not particularly surpsising

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
  • No urgency to cut rates


  • 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