Cryptocurrency

Jerome Powell

San Francisco Fed President Mary Daly said she believes the time is right for the central bank to start lowering interest rates.
“The labor market has reached full equilibrium. It's time to adjust policy,” he said.
Daly's remarks echo comments made by Fed Chairman Jerome Powell at the Jackson Hole Symposium last week, where he expressed confidence that inflation was on track to return to the Fed's 2% target. Powell also said it was “time to adjust policy.”
Daly reiterated the Fed’s commitment to lowering inflation to its 2% target, but said the central bank aims to do so without unduly damaging the labor market. “Our goal has always been to bring inflation down as smoothly as possible,” Daly said. With the economy expected to grow at or slightly below trend, the Fed is cautious about declaring premature victory over inflation, Daly said.
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While acknowledging that economic growth could be modest, Daly said it was important to avoid significant weakening of the labor market. “I don’t want to see any further weakening of the labor market. We want the labor market to remain at its current level,” he said.
The San Francisco Fed President concluded his remarks by stating that the most likely scenario is a gradual slowdown in inflation along with stable labor market conditions.
*This is not investment advice.
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Senior FED Member Speaks – Bullish Statement on Interest Rate Cuts

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