Home Forex Premature consideration of rate cuts is around the corner

Premature consideration of rate cuts is around the corner

by SuperiorInvest


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San Francisco Federal Reserve Bank President Mary Daly said on Friday she believes the central bank still has a long way to go to get inflation back to the Fed’s 2% target, and it is too early to think a rate cut is around the corner.

Key quotes

“We have a lot of work to do with inflation.”

“It is premature to think that a rate cut is around the corner.”

“Too early to declare victory.

“We need to get inflation on a consistent trajectory to 2%, we need more evidence to make sure we adjust the interest rate.”

“Any early signs that the labor market might falter could also prompt a policy adjustment.”

“It is important to look at any increase in delinquency rates as the first sign of economic weakness.”

Market reaction

The American dollar The index (DXY) is trading lower at 103.24 at the time of writing.

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