Fed's Daley: It's too early to declare victory over inflation or think an interest rate cut is imminent
On January 20th, the President of the Federal Reserve Bank of San Francisco, Daly, stated that it is premature to declare victory over inflation and we have not yet lowered inflation to 2%. He also believes that it is too early to consider cutting interest rates.
Before Daly made this statement, US short-term interest rate futures traders had changed their bets and believed that the Federal Reserve would not begin cutting interest rates before the May meeting. According to CME's "Federal Reserve Watch" data, the likelihood of a rate cut by the Federal Reserve in March has dropped to below 50%. (Jin10)
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