Espace de noms de la page (page_namespace) | 0 |
Titre de la page (sans l’espace de noms) (page_title) | 'Fed apos;s Daly: Would Rather Do Too Much On Rates Than Too Little' |
Titre complet de la page (page_prefixedtitle) | 'Fed apos;s Daly: Would Rather Do Too Much On Rates Than Too Little' |
Ancien modèle de contenu (old_content_model) | '' |
Nouveau modèle de contenu (new_content_model) | 'wikitext' |
Texte wiki de l’ancienne page, avant la modification (old_wikitext) | '' |
Texte wiki de la nouvelle page, après la modification (new_wikitext) | 'By Ann Saphir<br> Nov 10 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Thursday said she feels it is time to slow the pace of the Fed's interest-rate hikes, but would rather err on the side of raising rates slightly too far, than to not raise them high enough.<br> "I would rather move a little bit higher and have to come back then to move a little bit less high and to then tell people we're going to go higher, because at some point it does seep into inflation expectations," Daly said in a virtual appearance before the European Economics & Financial Centre.<br><br>At the same time, she said, "I don't want to be over tightening to the point where we throw the economy into a sharp recession, but if we are talking about a rate hike on either side, I want to fully get inflation sustainably down to 2% on average."<br> The Fed should not, she said, repeat the mistakes of the 1970s by stopping policy tightening too early, and [https://telecharger1win.com/ comment jouer avec le bonus 1win] allowing higher inflation expectations to get embedded in the economy.<br><br>Economic historians say that "stop and go" policy likely forced the Fed to raise rates far more dramatically, and send the economy into a much deeper downturn, than otherwise.<br> "I don't want to be over tightening to the point where we throw the economy into a sharp recession," Daly said.<br> In September, she said, she had penciled in a top fed funds rate next year of about 4.9%, she said, higher than the median forecast of her colleagues.<br><br>Given that inflation tends to lag most other economic data and in light of the various headwinds facing the U.S. economy including the slowdown in global growth, "I support a more gradual approach of getting to it so we can be discovering the right rate as we go."<br> Once there, she said, the Fed needs to keep the policy rate steady to keep pushing down on inflation until it is "well on its way" to the Fed's 2% goal, a strategy she refers to as "raise and hold." Markets are betting otherwise, with interest-rate futures pricing in rate cuts in the second half of the year.<br> Data published Thursday showing a slowdown in consumer inflation is "good news," but "one month does not a victory make," Daly said.<br> "We have to be resolute to bring inflation down; we're united in that commitment," she said.<br><br>"It's raising the rate and then holding it for a length of time that is sufficient to bring inflation reliably back to 2%...I don't I don't see anything in the incoming information that has changed the look of that path, the dynamics of that path," since September.<br> It's important to be "mindful" and "thoughtful" about raising rates so as to reduce the chance of sending the economy needlessly into a deep recession. (Reporting by Ann Saphir;)<br>' |
