Fed's Daly: Open to rate cut at September meeting, does not think the weakness in the labor market will worsen
In a speech given by Daly, the FOMC voting member and president of the San Francisco Fed, in 2024, the mission of the Federal Reserve and the risks it faces are becoming more balanced, and she is open to cutting interest rates at the upcoming (September) meeting.
Daly said: "The underlying data in the July employment report provides some confidence that we are slowing down but not collapsing. I do not think the weakness in the labor market will worsen now and will closely monitor whether the next employment market report reflects the same dynamics or reverses. If we only react to one data point, we will almost always be wrong."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
TRUMPMEME: Trump's "TRUMP DINNER" dinner will be held in Washington on May 22
TRUMP briefly breaks through $16
Ethereum Mainnet to Execute Pectra Upgrade on May 7
A whale bought more than 400,000 TRUMPs after the "TRUMP Dinner" news was released
Trending news
MoreCrypto prices
More








