Federal Reserve official Mary Daly said she is "very supportive" of keeping interest rates unchanged in July, according to Odaily, citing Jin10. Daly said she expects inflation shocks to fade over time and described the Fed's current policy stance as being in a good place. She also said she does not see evidence that would require an earlier rate hike. On the labor market, Daly said she currently does not believe employment conditions will drive inflation. The remarks point to support for leaving policy unchanged in the near term while inflation pressures are expected to ease.
Federal Reserve official Mary Daly said she is "very supportive" of keeping interest rates unchanged in July, according to Odaily, citing Jin10.
Daly said inflation shocks are expected to gradually fade and that the Fed's policy is in a good place. She added that she has not seen evidence requiring an earlier rate hike and does not currently think the labor market will push inflation higher.
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