US Federal Reserve Board
CNBC_ said Mary Daly, President San Francisco Federal Reserve Tightening monetary policy helps reduce the pace of inflation, but not to levels that make monetary policy makers feel completely comfortable.
Daly added, in an interview with CNBC, that the news about inflation is acceptable, and this should not be underestimated, but it is too early to declare victory.
Jerome Powell: I am not confident that the Fed has done enough to reduce inflation
These statements come a day after Fed Chairman Jerome Powell announced that he and his colleagues are not confident that monetary policy has reached a stage where monetary tightening is sufficient to reduce inflation to its target.
Daly compared the Fed’s job of achieving monetary policy tight enough to someone leading a horse, trying to see if the reins are pulled back enough to stop.
For the second meeting in a row, the Fed decided to fix the interest rate at a level ranging between 5.25% and 5.5%, which is the highest level in 22 years.
Daly stressed that the Fed is in a position where it can evaluate the upcoming data and act accordingly.
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2023-11-11 07:10:54
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