Fed's Daly: Today's data confirms her decreased confidence in outlook

  • Inflation looking stubborn

This is funny. Earlier today, Daly said she 'still' believed in cutting rates twice this year and I repeated my oft-said saying that when central bankers say the 'still' believe in something, they rarely do.

Now she's on the wires talking about today's slightly-hot PCE report and saying it confirms her own decreased confidence in her forecasts.

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