LEI for China Decreased Again

DALY: THE FALL LOOKS PROMISING FOR A RATE CUT Federal Reserve's Mary Daly suggested that the fall may bring favorable conditions for a rate cut, as economic data points to easing inflation pressures. This outlook could influence market expectations, with investors anticipating… Fed's Daly: Very Focused On Getting Inflation Down To 2% - Believe Tariffs Will Have Temporary Effect On Inflation

Good morning and thank you all for joining us at the seventeenth Policy Summit. I’m honored to welcome you to our marquee community development event—my first as president and CEO of the Federal Reserve Bank of Cleveland.1 If this is your first visit to our fair city, let me assure you Cleveland does indeed rock. I highly recommend exploring some of what this vibrant city has to offer in one of our loveliest weather months. The Rock and Roll Hall of Fame is just down the street, as is Progressive Field, where I happen to know the Guardians are playing home games over the next couple of days. But while we are participating in the summit, I’d like to acknowledge we wouldn’t all be together in person, or virtually, if it wasn’t for the efforts of the Cleveland Fed’s community development staff and our Reserve Bank and community partners. The Federal Reserve System’s Community Development Departments aim to promote economic growth and financial stability. We are honored to welcome representatives from each of the reserve banks to this summit, and I’m especially grateful to the Federal Reserve Banks of Atlanta, Boston, Chicago, Dallas, Kansas City, New York, Philadelphia, Richmond, and St. Louis for supporting the planning and execution of the event. Your dedication and collaboration made this ambitious program a reality. I’d like to recognize and thank Federal Reserve Governors Michael Barr and Lisa Cook for joining us. Governor Barr is the Community Development Oversight Governor for the Board of Governors and will share some remarks about the System’s community development efforts this afternoon. And Governor Cook will join me tomorrow for our 2025 Fed Listens session. We hope all of you will take part in that productive conversation about how monetary policy affects your lives and the lives of the people you know and serve. And before I continue, I note that the v Fed's Hammack does not comment on economy, monetary policy outlook.