Mary Daly, President of the Federal Reserve Bank of San Francisco, expressed concerns on Sunday about the growing uncertainty among businesses, which could potentially reduce demand in the US economy. However, Daly clarified that this uncertainty does not justify any changes in interest rates.
Key Quotes:
Business leaders in Daly’s district are reporting increased uncertainty regarding the economy and policies, which research suggests could negatively impact demand.
Daly believes that the Federal Open Market Committee (FOMC) does not need to adjust rates when it meets next week.
She emphasized that current interest rates are appropriate and that the US economy remains strong.
Market Reaction: Following Daly’s comments, the US Dollar Index (DXY) showed a slight decline, falling 0.13% to 103.70 at the time of writing.
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