Fed's Daly: Fed needs 'the boldness to wait' given uncertainty

<ul><li>Patience needed, measured adjustments </li><li>Fed uncertain if current economic dynamics are 'remnants' of pandemic recovery or the new normal</li><li>Fed not certain if inflation is on track to 2%</li><li>Fed unsure about length of policy lags</li><li>Debates are no centred on what constitutes sufficiently restrictive and how long to maintain that stance</li></ul><p>She's not pushing at all to keep a Dec/Jan hike on the table. The Fed messaging is shifting towards keeping the market from pricing in rate cuts. That said, the market is priced for an 80% chance of a cut on May 1 or sooner.</p>

This article was written by Adam Button at www.forexlive.com.