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Daly: Fed is working to get inflation down without stalling economy

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  • Comments from SF Fed president Mary Daly on Newsy’s morning rush radio program
Adam Button

Adam Button

Friday, 15/07/2022 | 14:39 GMT-0

15/07/2022 | 14:39 GMT-0

  • US economy is strong and consumers are continuing to spend
  • Labor market remains strong
  • Inflation is too high
  • Fed is working to get inflation down without stalling economy
  • Not concerned about over-cooking things on rate hikes
  • We are dialing back support to the economy
  • July FOMC will be “a good discussion”
  • UMich data on consumer inflation expectations was ‘a good thing’
  • We’re starting to see green shoots of hope forming in the housing market
  • I don’t have a recession in a high spot on the list of possible outcomes
  • Now it’s about getting  inflation  down
  • Campsites and restaurants are packed

We heard from Daly already late Wednesday when she said her most favoured response is a 75bp rate hike but that 100 bps was possible.

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