Federal Reserve Bank of San Francisco President Mary C. Daly said on Thursday that today\u2019s Consumer Price Index report was \u201cgood news\u201d for families and businesses in an interview with Yahoo! Finance. She mentioned that they are committed to getting core inflation down.
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The US Dollar Index is falling on Thursday but is off lows. The DXY bottomed after the US CPI report at 101.79 and then rebounded to 102.25. <\/p>\n\n\n\n
The consumer price index rose 3.2% from a year ago in July, slightly below expectations. The core CPI ran at a 12-month rate of 4.7%, also below the estimate. Both measures were up 0.2% on the month. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago.<\/p>\n\n\n\n
Real wages adjusted for inflation increased 0.3% on the month and were up 1.1% from a year ago. While inflation has come well off its 40-year highs of mid-2022, it is still considerably above the 2% level where the Federal Reserve would like it.<\/p>\n\n\n\n
\u201cWe’re going to be watching supercore carefully, that’s a big component of spending and it hasn’t made much progress so far, we need to see it come back to pre-pandemic levels,\u201d argued Daly.
Regarding the next FOMC meeting, Daly mentioned that there is a lot more information to assess before. \u201cIt\u2019s premature to project\u201d if what is needed is more rate hikes or to hold them steady for a longer period. \u201cWe are a long way from a conversation about rate cuts”.
\u201cIt\u2019s still hard to find workers,\u201d said Daly. According to the the economy is not yet in balance. <\/p>\n","protected":false},"excerpt":{"rendered":"
Federal Reserve Bank of San Francisco President Mary C. Daly said on Thursday that today\u2019s Consumer Price Index report was \u201cgood news\u201d for families and businesses in an interview with Yahoo! Finance. She mentioned that they are committed to getting core inflation down. The US Dollar Index is falling on Thursday but is off lows. …<\/p>\n","protected":false},"author":13,"featured_media":53116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6978,9390,6868],"class_list":["post-87625","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-cpi","tag-daly","tag-fomc"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=87625"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87625\/revisions"}],"predecessor-version":[{"id":87671,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87625\/revisions\/87671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53116"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=87625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=87625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=87625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}