Financial Times on Nostr: Fed’s Daly backs gradual interest rate cuts as inflation ‘confidence’ mounts ...
Fed’s Daly backs gradual interest rate cuts as inflation ‘confidence’ mounts
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Mary Daly, president of the San Francisco Fed, expressed increased confidence in inflation control, suggesting a potential adjustment of borrowing costs from 5.25% to 5.5%. Recent consumer price figures indicated inflation fell to 2.9% year-over-year in July, a three-year low. The core personal consumption expenditures price index rose at 2.6% annually in June, with headline PCE inflation at 2.5%. Atlanta Fed president Raphael Bostic warned against delaying rate cuts. A weak July jobs report raised recession concerns, but strong retail sales data alleviated some fears.
#FederalReserve #InterestRates #Inflation #Economy #MaryDaly #JayPowell #RaphaelBostic #RetailSales #ConsumerPrices #JacksonHole
https://www.ft.com/content/f3574817-0ac5-4e45-a36c-b227a782de03
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Mary Daly, president of the San Francisco Fed, expressed increased confidence in inflation control, suggesting a potential adjustment of borrowing costs from 5.25% to 5.5%. Recent consumer price figures indicated inflation fell to 2.9% year-over-year in July, a three-year low. The core personal consumption expenditures price index rose at 2.6% annually in June, with headline PCE inflation at 2.5%. Atlanta Fed president Raphael Bostic warned against delaying rate cuts. A weak July jobs report raised recession concerns, but strong retail sales data alleviated some fears.
#FederalReserve #InterestRates #Inflation #Economy #MaryDaly #JayPowell #RaphaelBostic #RetailSales #ConsumerPrices #JacksonHole
https://www.ft.com/content/f3574817-0ac5-4e45-a36c-b227a782de03