TechFlow news, on October 15, according to Jinshi Data, Mary Daly, voting member of the Federal Reserve's FOMC in 2024 and President of the San Francisco Fed, delivered remarks at an event hosted by New York University Stern School of Business. Daly stated that the U.S. economy is currently in a better state, inflation has substantially eased, and the labor market has cooled to levels close to pre-pandemic norms. Although the economy will likely continue expanding, the Fed must remain vigilant.
Daly emphasized that the Federal Reserve must achieve its 2% inflation target while maintaining maximum employment in the labor market. She viewed the rate cut in September as a moderate monetary policy adjustment, but noted that continued progress toward the Fed's goals remains uncertain. Regarding inflation, Daly said the labor market is no longer a primary source of inflationary pressure, and data show that public expectations point to further easing of inflation over time. She stressed that the Fed's monetary policy remains restrictive and is actively working to bring down inflation.
