Fed's Daly: It's prudent to hike to 2.5% by year-end

• Moving 'purposefully' to a more neutral stance is 'top priority'
• Inflation is too high
• Once Fed reaches neutral, Fed needs to assess financial conditions and inflation to see what more needs to be done
• Fed's full employment goal has been met
• Calls for a 'smooth and methodical' approach

The messaging around this has been sharpened this week as both her and Evans (two 'team players' at the FOMC) are saying the same thing. The nod to 'financial conditions' is the Fed saying that if the stock market falls 20% this year, it won't keep hiking.

More:

• Consumers shifting spending to services from goods helps on inflation
• I think inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term will start coming down this year but it's unlikely to get to 2%