Fed's Daly: We “will still be quite restrictive even if we [cut] three times next year.”

<p>Daly is out with comments in the WSJ</p><ul><li>It's too soon to speculate at which meetings the Fed might change policy stance next year</li><li>Her projections are very close to Fed median</li><li>We're acknowledging progress is there</li><li>When the unemployment rate starts to rise, it tends to go up by a lot and not by only a little bit</li><li>We have to be forward looking and make sure that we don’t give people price stability but take away jobs</li><li>we could over-tighten quite easily, and so that’s what I’m mindful of</li></ul><p>Quotable:</p><blockquote>“There is more work to do, and at this point, that work includes not only focusing on bringing inflation down to 2%…but also recognizing that we want to continue to do this gently, with as few disruptions to the labor market as possible”</blockquote><p>Daly is a voter in 2024.</p><p><a href="https://www.wsj.com/economy/central-banking/fed-official-says-rate-cuts-could-be-needed-next-year-to-prevent-over-tightening-29d009ce?mod=Searchresults_pos1&amp;page=1" target="_blank" rel="nofollow">Link here</a>.</p>

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