Fed President emphasizes the importance of data dependence

  • Fed’s Daly unsure if interest rates are high enough to bring inflation down
  • Markets demanding certainty from the Fed, but Daly says they don’t know yet
  • Fed policy in a good place, ready to react to economic data
  • Anecdotal data will play a big role in decision-making
  • Slim chance of rate hike in December, greater chance early next year

San Francisco Federal Reserve President Mary Daly expressed uncertainty about whether the current interest rates are sufficient to bring inflation down to the target of 2%. While markets are seeking certainty, Daly emphasized that the truth is that they don’t know yet. She stated that Fed policy is currently in a good place and ready to react to economic data. Daly also highlighted the importance of considering a constellation of data rather than relying on a single or even two reports. The Fed’s economic forecast had previously indicated another rate hike, but traders in derivative markets see a slim chance of a move in December and a greater chance early next year.

Public Companies: San Francisco Federal Reserve (), CNBC ()
Private Companies:
Key People: Mary Daly (San Francisco Federal Reserve President)

Factuality Level: 7
Justification: The article provides direct quotes from San Francisco Federal Reserve President Mary Daly, accurately reporting her statements. However, the article lacks in-depth analysis and context, and does not provide a comprehensive view of the topic.

Noise Level: 3
Justification: The article is relatively short and provides some relevant information about the views of San Francisco Federal Reserve President Mary Daly on interest rates and inflation. However, there is a lot of filler content, including unnecessary information about text-to-speech technology and a request for feedback. The article also lacks depth and analysis, providing only brief quotes from Daly without further context or explanation.

Financial Relevance: Yes
Financial Markets Impacted: The article mentions the Federal Reserve and interest rates, which are key factors that can impact financial markets and companies.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article does not describe any extreme event or its impact.

Reported publicly: www.marketwatch.com