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☆ Fed's Daly: No urgency to adjust the rate
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's Daly: No urgency to adjust the rateCNBC's Steve Liesman joins 'The Exchange' to report on San Francisco Fed President Mary Daly's statements about the economy.

Persons: Fed's Daly, Steve Liesman, Mary Daly's Organizations: San Francisco Fed

☆ Fed's Daly: Still too soon to say rate hike cycle is over -CNBC
▼ + stars: | 2023-11-10 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The Fed's monetary policy "is in a very good place" and "the news on inflation has been fairly good," Daly said in a CNBC interview. "There's a lot of demand for certainty that we would say we're done or we're definitely hiking, but the truth is, we don't know," Daly said. If financial conditions continued to ease, Daly said that would merit Fed attention. What's more, Daly noted that recent churning in the bond market was unlikely to be driven by some sort of underlying problem. "Bond yields move around for a variety of reasons, and there's a lot of uncertainty out there," Daly said.

Persons: Mary Daly, Daly, Jerome Powell, Powell's, Michael S, Andrea Ricci Organizations: Federal Reserve Bank of San Francisco, CNBC, Market, Financial, Fed, Thomson

☆ Fed's Daly: Risks of doing too much vs too little 'roughly balanced'
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

Federal Reserve Bank of San Francisco President Mary Daly poses for a photograph at the Kansas City Federal Reserve Bank's annual Economic Policy Symposium in Jackson Hole, Wyoming, U.S. August 25, 2023. "How much can the economy take in terms of rate increases so we can get the policy rate to a level that's reasonable to bring inflation down? She was describing the balancing act the Fed faces after raising the short-term policy rate from near zero to 5.25%-5.5% over a span of about 18 months. "I would say now the risks of how we balance those things are roughly balanced -- over-tightening versus under-tightening -- but we still have high inflation and the labor market's still strong," she said. "It's part of a large dashboard of data," she said, to which the Fed needs to be able to respond to with agility.

Persons: Mary Daly, Ann Saphir, Daly, Chris Reese, Leslie Adler Organizations: Reserve Bank of San Francisco, Kansas City Federal, REUTERS, San Francisco Federal, Treasury, Thomson Locations: Jackson Hole , Wyoming, U.S, San, Chicago, Palestinian, Israel

☆ Oil dips on demand worries as more rate hikes likely
▼ + stars: | 2023-06-23 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

More U.S. interest rate hikes also seemed likelier. San Francisco Federal Reserve Bank President Mary Daly said two more rate hikes this year was a "very reasonable" projection. The Bank of England rate rise triggered fund liquidation and energy producers were moving to a "hedge now" mentality, Kissler added. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. Risk-aversion among investors also boosted the value of the U.S. dollar, which pressures oil prices by making the commodity more expensive for other currency holders.

Persons: Brent, Mary Daly, Dennis Kissler, China's, Alex Lawler, Sudarshan, Philippa Fletcher, Kirsten Donovan, Louise Heavens, David Gregorio Our Organizations: Fed's Daly Bank of, HOUSTON, . West Texas, Bank of England, San Francisco Federal Reserve Bank, EU, BOK, The Bank of, U.S ., Thomson Locations: Norway, Switzerland, San, China, Saudi, OPEC

Last week Fed policymakers decided to hold the policy rate steady at the current 5%-5.25% range, interrupting what had been a string of 10 straight increases aimed at stomping inflation. The unemployment rate has crept up to 3.7% but is lower than the 4% rate Fed policymakers estimate is consistent with a fully employed American workforce on a sustainable basis. That's one more reason, she said, to slow down on rate hikes. "No wonder there's a couple of extra rate hikes," Daly said. Two more quarter-point rate hikes this year, Daly said, is "a very reasonable projection at this point," she said.

Persons: Florence Lo, Mary Daly, Daly, what's, Banks, I've, Ann Saphir, Dan Burns, Andrea Ricci Organizations: REUTERS, San Francisco Federal Reserve Bank, Reuters, Thomson

☆ Fed's Daly: tighter policy, for a longer time, 'likely' needed
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +3 min

The acceleration of inflation in January "suggests that the disinflation momentum we need is far from certain," Daly said in remarks prepared for delivery to the Princeton Economic Policy Symposium. "In order to put this episode of high inflation behind us, further policy tightening, maintained for a longer time, will likely be necessary." Coming from Daly, whose views are typically in line with Fed leadership, the remarks may add to expectations that Fed policymakers will lift rates higher in coming months than the 5.1% that most of them had penciled in December. Fed policymakers will publish fresh projections for policy and the economy at the close of their upcoming March 21-22 meeting. Daly did not use her prepared remarks to offer a view on how big March's rate hike ought to be, or exactly how high rates should go.

☆ Fed's Daly: Lots of options on table for December FOMC rate hike
▼ + stars: | 2022-11-21 | by ( Michael S. Derby | ) www.reuters.com time to read: +1 min

"I tend to be on the more hawkish side of the distribution” of policymakers, Daly told reporters on a conference call on Monday. While it’s likely the Fed will stop raising rates next year when its target rate, now at between 3.75% and 4%, hits 5%, “we could go higher” if inflation does not moderate, she said. Daly added that while there have been signs inflation may be starting to cool off, “it is way too early to call a turning point” for price pressures. Some policymakers have signaled an openness to smaller- sized rate rises after the aggressive path of increases seen so far this year. Reporting by Michael S. Derby; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Fed's Daly: Currently expect fed funds rate to top out around 5%
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, Nov 21 (Reuters) - Federal Reserve Bank of San Francisco leader Mary Daly said on Monday she is still expecting the U.S. central bank to hike rates more and will likely lift its interest rate target to around 5%. While the end state of the central bank’s rate rise campaign is “not set in stone” it remains likely the Fed will get to around 5%, or somewhere between 4.75% and 5.25%, Daly said in an address to the Orange County Business Council in California. The current federal funds rate stands at between 3.75% and 4%. The rate setting Federal Open Market Committee is almost certain to raise that rate when it meets next month. Reporting by Michael S. Derby Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Nov 21 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. World stocks have rebounded strongly, bond yields and the dollar have fallen, and financial conditions eased significantly over the last month as investors bet that the Fed is preparing the ground for the much-vaunted 'pivot'. This deepens the problems that Asian markets and policymakers have been facing all year - historically low exchange rates, FX market intervention, rising inflationary pressures, and raising domestic interest rates into weak growth. Asia's powerhouses Japan and China are loosening policy, of course, and their currencies and FX reserves are taking a hit. But if Fed hawks and dollar bulls set the market tone, they may have to tighten more than they had envisaged.

☆ Fed's Daly sees rates rising at least another percentage point as 'pausing is off the table'
▼ + stars: | 2022-11-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

San Francisco Federal Reserve President Mary Daly said Wednesday she expects the central bank to raise interest rates at least another percentage point, and possibly more, before it can pause to evaluate how the inflation fight is going. Thus far, the Fed has hiked the fed funds rate, which spills over into a slew of other consumer debt products, six times, including four consecutive 0.75 percentage point moves. Traders see the central bank adding another 0.5 percentage point when it meets again in mid-December, then moving a bit higher before stopping around the 4.75%-5% range. The Fed is using its primary tool of interest rate increases to right inflation that still is around its highest level in more than 40 years. Daly said she expects higher rates to continue to have an impact on the economy and bring inflation back in line.

☆ Fed's Daly: inflation report "good news," still resolute on policy
▼ + stars: | 2022-11-10 | by ( Ann Saphir | ) www.reuters.com time to read: 1 min

Nov 10 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Thursday said that a slowdown in October in consumer inflation is "good news," but "one month does not a victory make," she said, adding that the Fed will be "resolute" in bringing inflation down to the Fed's 2% goal. Reporting by Ann Saphir;Our Standards: The Thomson Reuters Trust Principles.

☆ San Francisco Fed's Daly: Next Fed hikes should be smaller than 75 BPS
▼ + stars: | 2022-10-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSan Francisco Fed's Daly: Next Fed hikes should be smaller than 75 BPSCNBC's Steve Liesman joins the 'Halftime Report' to discuss San Francisco Fed President Mary Daly's latest statement on rate hikes. The investment committee weighs in.

☆ Morning Bid: U-turn sparks huge turn
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Take Britain, where a government budget on Friday sparked a run on the pound and gilts, accelerated the downdraft across world markets, before prompting an astonishing policy U-turn from the Bank of England on Wednesday. This unleashed a wave of buying across British assets - the 30-year gilt yield sank a record 100 basis points and sterling rose 1.5% - and triggered a pent-up recovery across world markets. The relief was palpable: world stocks and the S&P 500 snapped six-day losing streaks, with the S&P 500 jumping around 2%. Its tinkering at the edges seems to have failed, so will it soon have to take more forceful action to support the yuan? They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Fed's Daly: do not want to tip economy into downturn
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: 1 min

Sept 27 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that the U.S. central bank is "resolute" about bringing down high inflation but also wants to do so "as gently as possible" so as not to drive the economy into a downturn. It is important, Daly said at a symposium held jointly with the Monetary Authority of Singapore, "to navigate through this high inflation environment as carefully as we can, so that we don't leave longer term damage to our labor market." Register now for FREE unlimited access to Reuters.com RegisterReporting by Ann Saphir; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks could continue skittish trading until interest rate move calms down
▼ + stars: | 2022-09-23 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

The S & P 500, Dow and Nasdaq were all down sharply for the week. The S & P was down 4.6%, ending the week at 3,693. Fed Vice Chair Lael Brainard , St. Louis Fed President James Bullard , San Francisco Fed President Mary Daly and Fed Governor Michelle Bowman are among the speakers. Other global central banks joined the Fed in raising rates, and interest rates around the world rose in tandem. If those levels break, the S & P could touch 3,385 before the selling is over, he said.

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