Fed's Daly says want to bring inflation down, not unnecessarily tip economy into recession

Mary Daly is head of the San Francisco Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term branch

• Want to bring 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 down, but not unnecessarily tip the economy into a downturn
• It's important to navigate through high inflation environment as carefully as we can
• We are resolute and committed to doing that

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Daly wants lower inflation but not a recession. Of course the Fed would prefer a soft landing to a hard one!

More:

• May come out of this episode with higher inflation, not the too-low inflation of prior to the pandemic
• Consensus in the US is that about half of excess inflation comes from excess demand
• Out tools are designed to bridle demand
• The hope is that as we bring demand down, supply issues also get resolved
• We might have to do a little more on demand because supply is sluggish to recover