SF Fed President Daly
- US labor market is very strong
- Inflation is unacceptably high
- Still not at price stability, Fed has more work to do
- Currently the expects Fed Funds to top out at around 5%
- US has a shortage of housing
- Will be watching the data
- There are a lot of global headwind including China, war in Ukraine, the winter in Europe.
- My view that rates could peak in the 4.75%-5.25% range, it is not set in stone