off-the-wire

Fed's Daly: no single most-likely path for rates

Kitco Media
By Reuters
Published:
Updated:
Reuters
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March 23 (Reuters) - San Francisco Federal Reserve Bank President Mary ​Daly on Monday said ‌that unless the Iran conflict resolves quickly and the ​Fed can simply "look through" ​a temporary increase in oil ⁠prices, it is ​not clear what the Fed's ​next move on interest rates will need to be.

"There is ​no single most-likely path," ​Daly said in a post on ‌LinkedIn, ⁠noting a protracted conflict could increase the risk of higher inflation but ​also ​a weaker ⁠labor market, putting the Fed's two ​goals in tension. "With ​policy ⁠in a good place, we need to remain flexible, ⁠able ​to respond ​to rapidly evolving risks."

Reporting by Ann ​Saphir; Editing by Chris Reese

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