Fed's Daly Says Monetary Policy Still Working to Lower Inflation

THE FED - NEW YORK. Federal Reserve Bank of San Francisco President Mary Daly said on Tuesday that even with last month’s rate cut monetary policy is still working to bring inflation pressures down.

The half percentage point cut in the federal funds rate target implemented in September was a “right-sizing” of the stance of interest rate policy, “recognizing the progress we’ve made and loosening the policy reins a bit, but not letting go,” Daly said in the text of a speech prepared for an event at New York University.

Read Also: Prabowo Courts Largest Party for Coalition, Meets Candidates for Govt Posts