Fed's Daly: Inflation impact of tariffs hasn't been as large as forecast

  • Comments from the SF Fed President
Mary Daly
Mary Daly
  • We are in a 'tradeoff' space, we need to balance risks
  • I think a little more cutting will be needed over time
  • Fed should not go all the way to neutral, it's too risky
  • US economy is in okay shape
  • Fed needs to monitor for inflation and labor market weakness

It seems like some more-hawkish rhetoric is creeping into the Fedspeak.

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