According to FT, Fed's Daly thinks it's time to think about changing borrowing costs

San Francisco Federal Reserve Bank President Mary Daly suggested it's time to consider adjusting borrowing costs from their current range of 5.25% to 5.5%, according to an interview with the Financial Times published on Sunday.

“Gradualism isn’t weak, slow, or behind the curve; it’s simply prudent,” Daly stated. She noted that while the labor market is cooling, it remains "not weak."

Earlier this month, Daly commented that it's too early to determine whether the July jobs report indicates a genuine slowdown or just a temporary softening. She emphasized the importance of preventing the labor market from slipping into a downturn and expressed growing confidence that inflation is on track to reach the 2% target.

Fed Chair Jerome Powell is set to deliver his outlook on the economy on Friday, during the first full day of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming.

 

 

 

Paraphrasing text from "Reuters" all rights reserved by the original author.