Daly Sees No Need to Rush October Fed Rate Decision
The San Francisco Fed president said more policy adjustments may be needed, but officials have time to assess the outlook before their October meeting.
Key takeaways
- Mary Daly said the Fed has time to assess whether further policy adjustments are needed.
- U.S. annual consumer inflation reached 3.7% in September, with gasoline contributing to the increase.
San Francisco Fed President Mary Daly said the central bank may need further policy adjustments, but sees no need to rush a rate increase at its October 27-28 meeting. She said officials are still assessing the timing.
The Fed’s policy rate is currently in a range of 3.75% to 4.00%. Several Fed officials have signaled in recent weeks that an increase in October is unlikely.
Daly said September’s 3.7% annual U.S. consumer inflation figure initially prompted a strong market reaction, which eased as investors examined the data. She attributed part of the increase to gasoline prices and said underlying inflation remained high but had not accelerated sharply.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
