MNI BRIEF: Daly Says Fed Rates Policy 'In A Good Place'

San Francisco Fed President Mary Daly said Thursday monetary policy remains in a good place, continuing to put downward pressure on inflation while uncertainty emanates from Washington.  

Daly said she "can't guarantee" the Fed will get inflation down to 2% this year. "That's not necessarily my forecast," she told the Oakland Rotary Club in California. "We might not get there this year, but we are making progress, and importantly, we remain resilient to get the job done."

Monetary policy right now is "where it needs to be to continue to bring inflation down," the San Francisco Fed chief said. "We have a reasonably good economy that has its footing under it," she said. "Businesses are still waiting to see. And as they wait to see, we wait to see, because we have policy in a good place for the economy we have, and we have plenty of opportunity then in time to make decisions as the economy evolves." (See: MNI POLICY: Fed Cut Impetus Fades Alongside Recession Fears)