After SF Fed Daly gave a speech, she is answering questions and says:
- The economy is in a good place.
- GDP growth, labor market solid.
- Inflation is coming down over time, quite bumpy.
- No reason to be discouraged about inflation progress, but taking longer than anyone wants.
- Fed policy remains restrictive.
- Asked if there will be more rate cuts this year, says the world is uncertain.
- Needs to remain restrictive until I see that we are really continuing to make progress on inflation.
- We want to be careful before we make the next adjustment that there is enough pressure on inflation.
- Also do not want to shortchange labor market.
- Need more information, don't want to urgently get to an answer that we would regret.
- We do not know scope, magnitude or timing of new administration's policies.
- Policy is in a very good place can easily move when needed.
"Steady as she goes" is her general view as uncertainty dictates staying pat.
Mary Daly is not a voter in 2025 or 2026
