dChan
Anonymous ID: bb92c9 July 11, 2024, 9:35 a.m. No.21179170   🗄️.is 🔗kun   >>9317 >>9700 >>9871

Fed’s Daly says data now justifies cutting interest rates

 

(Tomorrow another FedHead will say the exact opposite as this is how they try to position as “apolitical” so watch for that-no chance in hell (and never was) for July cut but September fully being signaled and has been for several months it’s gone up an additional 5% since this morning-see cap#2 and >>21178530 lb )

 

San Francisco Fed president offers no specifics on timing or magnitude of moves. San Francisco Fed President Mary Daly said Thursday she now supports cutting interest rates.

“With the information we have received today, which includes data on employment, inflation, GDP growth and the outlook for the economy, I see it as likely that some policy adjustments will be warranted,” Daly said in a roundtable with reporters.

Daly wouldn’t comment on the timing of the first cut or how many moves she favored. She said it was important to tell the market where policy was headed and the specifics would depend on future data.

The Fed’s latest formal forecast shows officials are divided between one or two quarter-percentage-point cuts by the end of the year.

The Fed’s interest-rate committee meets again on July 30-31. Daly said that every meeting is a live meeting for a possible move. Daly said she had more information to gather ahead of that meeting. She said she wasn’t calling for an immediate cut.

Asked if there was evidence the Fed should have already lowered rates, Daly said she didn’t think so.

“If I thought that we were behind, then I would be calling for adjustments immediately — and I don’t see that as being the case,” Daly said. Traders in derivatives markets now see less than a 10% chance of a rate cut in July.

https://www.marketwatch.com/story/feds-daly-says-data-now-justifies-cutting-interest-rates-8a6e0cee

https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html