San Francisco Fed President Daly: The Federal Reserve is in a "Fine-Tuning" Phase

Deep News01-10

San Francisco Federal Reserve President Mary Daly stated that policymakers are currently in a "fine-tuning" phase. “We are not at a stage where large-scale policy adjustments are needed, but rather require fine-tuning as the economy evolves,” Daly said on Friday. Daly noted that the most recent interest rate cut was aimed at offsetting weakness in the labor market, pointing out that inflation remains above the Fed's 2% target. “I am trying to think about what approach is needed in a period like this, which is not about fighting a major battle, but about managing small-scale changes and contemplating the long-term stable direction for the economy and interest rates”.

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