Fed’s Daly: Wants to bring inflation down, but not unnecessarily tip the economy into a downturn
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Federal Reserve’s Mary Daly is crossing the wires.
She said she wants to bring inflation down, but not unnecessarily tip the economy into a downturn.
”It’s important to navigate through a high inflation environment as carefully as we can,” she said.
”We are resolute and committed to doing that.”
She joins a chorus of Fed speakers this week. We heard from St. Louis Fed President James Bullard and Chicago Fed President Charles Evan on Tuesday morning who advocated more interest rate hikes even at the risk of slowing economic growth. Later in the day, Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said in a WSJ Live interview that central bankers are united in their determination to do what needs to be done to bring inflation down, and financial markets understand that. “There’s a lot of tightening in the pipeline,” Kashkari said.
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