San Francisco fed president urges vigilance as new report highlights lingering high inflation
San Francisco Fed President Mary Daly stated that the new report released yesterday indicated that inflation is still quite high and that there is "more work to be done" for the U.S. Federal Reserve (Fed).
- Economy
- Agencies and A News
- Published Date: 08:52 | 11 August 2023
- Modified Date: 09:05 | 11 August 2023
In statements made to Yahoo Finance, San Francisco Fed President Mary Daly said, "Inflation data came largely as expected, and this is good news."
While consumer prices in the U.S. rose by 0.2% monthly in line with expectations, the annual increase of 3.2% remained below the market expectation of 3.3%.
Daly stated, "This is also consistent with what we believe will happen, meaning inflation will gradually come down. However, it's not a data point that declares victory for us. There is still much work to be done."
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