MNI BRIEF: Fed's Daly Keeping Open Mind On December Rate Move

San Francisco Fed President Mary Daly said Thursday she's keeping an open mind about the December FOMC meeting, adding it would be premature to lean in either direction of an interest rate cut or hold. 

"I really think there's a premium on waiting to decide until you have as much information as you can possibly have to make a good decision, but not waiting so long that you become inactive, because you're paralyzed with not having the last piece of information you think you might use," Daly said in Q&A at an Institute of International and European Affairs event in Ireland. "I have an open mind, but I haven't made a final decision on what I think."

She noted the direction of policy looks to be moving toward neutral. "How quickly we make those decisions to get to neutral will depend on the incoming information and what it tells us about the evolution of the economy, the most likely evolution." (See: MNI INTERVIEW: Fed Will Cut In Dec, More Next Year-Reinhart) 

"To my mind, it's premature to say definitely no cut or definitely a cut," she said.