Federal Reserve official Mary Daly emphasized the absence of urgency in cutting interest rates, highlighting the need for a steady approach amid economic uncertainties. Speaking during a recent event, Daly underlined the importance of maintaining the Fed’s current policy stance, as inflation levels remain above the central bank’s 2% target.
Daly’s remarks come as market participants speculate about the timing of potential rate cuts in 2024. She reiterated that while inflation has shown signs of cooling, premature easing could jeopardize economic progress. The cautious tone signals the Fed’s commitment to carefully balancing growth and price stability, with no indication of a swift policy pivot.
