Economic news

Fed’s Daly: Work on inflation “nowhere near” almost done

2022.08.02 17:54

Fed's Daly: Work on inflation "nowhere near" almost done
FILE PHOTO: People shop in a supermarket as inflation affected consumer prices in Manhattan, New York City, U.S., June 10, 2022. REUTERS/Andrew Kelly/File Photo

(Reuters) – The Federal Reserve’s work of bringing down inflation is “nowhere near” almost done, San Francisco Fed President Mary Daly said on Tuesday, adding U.S. central bank officials are “still resolute and completely united” in the task of achieving price stability.

Daly, in an interview streamed on LinkedIn and hosted by a CNBC anchor, said, “We have made a good start, and I feel really pleased with where we’ve gotten to by this point,” but she cautioned there is still “a long way to go” to lower inflation from four-decade highs.

The Fed last month raised its benchmark interest rate – its key policy tool – by three-quarters of a percentage point for a second straight meeting. Fed Chair Jerome Powell after that meeting said another “unusually large” rate hike may be appropriate at their next meeting in September if inflation is not easing to a sufficient degree.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 96,240.79 2.49%
ethereum
Ethereum (ETH) $ 3,372.00 3.53%
tether
Tether (USDT) $ 1.00 0.07%
xrp
XRP (XRP) $ 2.19 4.73%
bnb
BNB (BNB) $ 695.27 2.25%
solana
Solana (SOL) $ 190.02 4.12%
dogecoin
Dogecoin (DOGE) $ 0.318043 4.52%
usd-coin
USDC (USDC) $ 1.00 0.14%
staked-ether
Lido Staked Ether (STETH) $ 3,365.92 3.38%
cardano
Cardano (ADA) $ 0.875138 4.59%
tron
TRON (TRX) $ 0.252829 1.70%
avalanche-2
Avalanche (AVAX) $ 38.00 6.83%
the-open-network
Toncoin (TON) $ 5.81 3.65%
chainlink
Chainlink (LINK) $ 23.07 6.81%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,996.25 3.45%
shiba-inu
Shiba Inu (SHIB) $ 0.000022 5.65%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,180.77 2.19%
sui
Sui (SUI) $ 4.28 4.81%
hedera-hashgraph
Hedera (HBAR) $ 0.293314 6.06%
stellar
Stellar (XLM) $ 0.36168 6.28%
polkadot
Polkadot (DOT) $ 7.05 6.00%
bitget-token
Bitget Token (BGB) $ 7.24 23.52%
weth
WETH (WETH) $ 3,372.29 3.48%
bitcoin-cash
Bitcoin Cash (BCH) $ 441.75 5.18%
hyperliquid
Hyperliquid (HYPE) $ 25.88 7.63%
leo-token
LEO Token (LEO) $ 9.22 3.54%
uniswap
Uniswap (UNI) $ 13.07 6.97%
litecoin
Litecoin (LTC) $ 103.93 4.96%
pepe
Pepe (PEPE) $ 0.000018 6.87%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,557.16 3.19%
near
NEAR Protocol (NEAR) $ 5.11 7.49%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.17%
usds
USDS (USDS) $ 1.00 0.35%
aave
Aave (AAVE) $ 341.15 8.75%
internet-computer
Internet Computer (ICP) $ 10.55 7.48%
aptos
Aptos (APT) $ 9.01 7.12%
crypto-com-chain
Cronos (CRO) $ 0.152124 4.80%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.486673 6.48%
mantle
Mantle (MNT) $ 1.19 5.02%
ethereum-classic
Ethereum Classic (ETC) $ 26.18 5.20%
vechain
VeChain (VET) $ 0.048039 8.19%
render-token
Render (RENDER) $ 7.24 4.79%
monero
Monero (XMR) $ 192.65 2.05%
whitebit
WhiteBIT Coin (WBT) $ 24.67 1.02%
bittensor
Bittensor (TAO) $ 478.24 6.98%
dai
Dai (DAI) $ 1.00 0.12%
mantra-dao
MANTRA (OM) $ 3.67 3.39%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.28 5.83%
arbitrum
Arbitrum (ARB) $ 0.75991 5.79%
filecoin
Filecoin (FIL) $ 5.05 6.14%