SF Fed Pres. Mary Daly speaking...
The San Francisco said president Mary Daly is speaking and says:
- Economy is in a good place
- Labor market is very strong
- US economic growth is being propelled by consumers
- Investment has been weaker
- Businesses face geopolitical uncertainty, trade uncertainty
- Businesses are worried about slower global growth
- Has supported rate cuts in July and last week
- Monetary policy can and should offset headwinds
- Lower interest rates ispart of why you see the US economy continued to grow above trend
- Feds tools are still very effective
- We are seeing trade policy uncertainty dent investment
- Slower global growth, geopolitical risks also headwinds
- Case for keeping rates the study includes concerns about financial imbalances, expectations inflation will rise
- Need to be able to achieve inflation target. That's why supported a rate cut
- Watching commercial real estate sector for signs of overreaching for yield, but says she is hearing there is some self adjustment
- Committed to Fed funds rate trading in its target range
- Repo restraint may have shown liquidity distribution problem
- Liquidity wasn't being moved from one bank to another
Daly is a non voter in 2019. She is speaking at an event in Oregon.
The comments are not anything new.
