Fed’s Daly says it’s too early to consider rate cuts imminent.

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Federal Reserve Bank of San Francisco’s President, Mary Daly, has expressed concerns over current inflation levels and the means of aligning them back towards the Fed’s targeted 2% goal. She fervently believes that considerable work still needs to be done to achieve this aim, suggesting a determined impetus on inflation control by the central bank. Daly also seemingly dispelled immediate expectations of any prospective interest-rate cuts, stating that such predictions may be “premature”.

The overall sentiment suggested by Daly points towards a rigorous monetary policy adjustment in the near future. Her cautious stance on interest-rate cuts also raises certain implications for the financial market, possibly pointing to a sustained period of current interest rates to help stimulate economic growth and rein in excessive inflation. The San Francisco Fed chief’s firm standpoint clearly underscores the challenges and constant balancing act the central bank undertakes in managing inflation, interest rates and their influence on the wider economy.

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