Technical Analysis

Fed’s Daly: We are resolute and focused on bringing inflation down

  • We feel a slowdown coming and we still have a long way to go
  • We are far away from price stability goal

There isn’t much of a signal in these comments.


  • My inflation projection has gone up
  • Goods inflation has been falling, that’s what we’ve been hoping for
  • Same can be said of house-price inflation
  • Core services ex housing inflation is still quite elevated
  • Services inflation usually takes quite a bit longer for that kind of inflation to come down, as it’s related to the labor market

This is in line with what Powell said, which is usually the case with Daly.

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