Fed's Daly Fully Supports Holding Rates Steady, Says More Data Needed

Daly of the Federal Reserve said she "fully supports" the Fed's decision last week to hold interest rates unchanged, according to a ChainCatcher newsflash citing Jinshi. Daly noted that inflation remains significantly above the Fed's 2% target, so the Fed needs to collect more data to judge what policy response should be adopted going forward. She stressed that the Fed should "closely monitor incoming information" and be ready to take action when necessary. The report includes no additional details beyond Daly's statements. According to the report, the Fed's decision to keep rates steady last week was fully backed by Daly. She described the current inflation level as clearly above target, indicating that a data-dependent approach is necessary. Daly's remarks also reaffirm that the central bank remains prepared to act if upcoming information warrants it, although no specific timing or policy direction was provided in the original report.