Mary Daly News

Federal Reserve Bank President Mary Daly on Monday said she has not seen anything to suggest the U.S. central bank would stop cutting interest rates, which are «absolutely» still high enough that they are restraining the economy. Daly, in a webcast interview with the Wall Street Journal, added that the goal is a "soft landing" where inflation cools to 2%, the labor market stays healthy, and wages catch up with higher prices.

inflation as their comments echo Fed chief Jerome Powell's call for caution. The US Fed policymakers, fresh from an interest rate cut this week, fleshed out on Friday the case for reducing borrowing costs more slowly next year as they assess progress in lowering inflation and the impact of tariffs and other policies promised by President-elect Donald Trump, Reuters reported. San Francisco Fed President Mary Daly, who supported the U.S. central bank's decision on Wednesday to cut its benchmark overnight rate by a quarter of a percentage point to the 4.25 per cent-4.50 per cent range, and Cleveland Fed President Beth Hammack, who dissented against it, both said the meeting's outcome was a «close call.» Daly and two other Fed policymakers who spoke on Friday said they felt the central bank would likely resume its rate-cutting next year, but signaled they would take their time doing so now that, as Daly put it, the «recalibration phase» is over, as per Reuters report. «We're in the next phase, and that next phase is really looking at the incoming information,» Daly said in an interview with Bloomberg Television.

Mary Daly, president of the San Francisco Fed and voting member of the Bank's Open Market Committee, told the FT that the latest data provided her some reassurance that inflation was now under control. US inflation dips below 3% for the first time since 2021 US inflation fell below 3% for the first time since in three years last week (15 August). This was followed by better than expected results from July's US retail and food services sales. Daly spoke ahead of the Bank's annual gathering in Jackson Hole Wyoming this week, where leading members of the Fed and market participants...

San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year but declined to provide a timetable or the extent to which the central bank will ease.

inflation is cooling, news that helped ease doubts over how well monetary policy is doing its job after stronger-than-expected price increases earlier in the year. But while progress on a month-to-month basis is increasingly clear, the road to the Fed's 2% inflation goal — measured in year-over-year terms — is likely to be long, complicating discussions about when to cut interest rates. «We are getting evidence that (policy) is tight enough,» San Francisco Federal Reserve Bank President Mary Daly told CNBC in an interview just minutes after a Bureau of Economic Analysis report showed inflation did not rise at all from April to May. «It's really challenging to look anywhere and not see monetary policy working: we have growth slowing, spending slowing, the labor market slowing, inflation coming down.»

₹86,620 per kilogram today, driven by a strengthening U.S. dollar and rising Treasury yields after hawkish remarks from U.S.

Bitcoin (BTC) began the week on a downward trend, trading around $61,000 with an intraday low of $60,675. Despite a previous surge following the U.S. approval of exchange-traded funds (ETFs), Bitcoin has not regained momentum.

Akshaya Tritiya 2024: Gold price rises ₹41,000 in five years. Experts see up to ₹85K peak next year “Gold is driven higher by rise in festive demand in India with additional support from a weaker U.S. dollar, which is down on rising bets for an early rate cut by the U.S.

Gold prices ticked up on Friday and were on track for a weekly gain, as recent economic data prompted traders to raise bets of an interest rate cut from the Federal Reserve later this year.

Oil prices rose on Friday, continuing upwards trend on the signs of improving economy in China and as negotiations to halt hostilities in the stand-off between Israel and Hamas yielded no results. Brent futures rose 37 cents, or 0.4%, to $84.24 a barrel, while U.S. West Texas Intermediate crude grew 41 cents, or 0.5%, to $79.64 at 0003 GMT.

Middle East drove investors towards the safe-haven metal. FUNDAMENTALS

San Francisco Federal Reserve Bank President Mary Daly said on Monday there is no urgency to cut U.S. interest rates, with the economy and labor market strong, and inflation still above the Fed's 2% target. «The worst thing to do is act urgently when urgency is not required,» Daly said at the Stanford Institute for Economic Policy Research. Daly is one of 19 U.S. central bankers who set U.S. monetary policy.

Investing.com-- Gold prices fell slightly in Asian trade on Tuesday as anticipation of key signals on U.S. inflation and the Federal Reserve dissuaded big trades, while recent strength in the dollar also weighed.

Investing.com-- U.S. stock index futures rose slightly in evening deals on Monday, recovering some ground after a negative session on Wall Street as markets remained largely on edge ahead of more cues on inflation and the Federal Reserve. 

Wall Street’s three major indexes closed mixed on Friday to notch their best week of 2024 after the Federal Reserve stuck with projections for three interest rate cuts by year's end and amid continued optimism over artificial intelligence.

Investing.com — The U.S. dollar slipped lower in early European trade Tuesday, but remains close to recent highs given the prospects of higher-for-longer U.S. interest rates, while the euro faces a wages test later in the session.

Investing.com -- U.S. stock futures hovered around both sides of the flatline on Friday.

Investing.com-- Most Asian currencies moved little on Friday and were set for a muted weekly performance as markets remained largely convinced that the Federal Reserve will not cut interest rates early this year.

Investing.com-- Gold prices moved little in Asian trade on Friday after retaking a key level as weak U.S. retail sales data spurred some doubts over when the Federal Reserve will begin cutting interest rates.

Investing.com-- Gold prices moved little in holiday-thinned Asian trade on Monday, with the yellow metal keeping to a trading range established over the past week as traders sought more cues from upcoming U.S. inflation data.

Investing.com-- Most Asian currencies moved in a tight range on Monday as market holiday across most of the region kept trading volumes limited, while the dollar fell slightly before key inflation data due this week.