Precious metals after the correction: stabilisation, not a new rally

Fed's Daly: The Fed must watch both sides of mandates, the situation feels precarious. FED'S DALY: LOW-HIRING, LOW-FIRING ENVIRONMENT MAY PERSIST, OR MAY QUICKLY CHANGE TO A NO-HIRING, MORE-FIRING LABOR MARKET Fed's Daly: Businesses are cautiously optimistic, workers are not so sure. Fed's Daly Says Growth Is Good, Consumer Spending Remains Solid, Jobs Are Easy To Fill, And Productivity Gains Are Helping Control Costs

Thank you, Wendy, for the kind introduction. It is an honor to speak at the Brookings Institution. Today, I will start by sharing my outlook for the economy. Then, I will discuss the possible implications of that outlook for the path of monetary policy. Next, I will turn to the subject matter of this conference and discuss supply-side inflation dynamics. After my remarks, I look forward to our discussion. At the start of this year, I am cautiously optimistic about the economic outlook. I see signs suggesting that the labor market is stabilizing, that inflation can return to a path toward our 2 percent objective, and that sustainable economic growth will continue. To be sure, there are risks to both sides of the dual mandate, given to us by Congress, of maximum employment and stable prices. Incoming data bear careful watching. FED'S JEFFERSON SAYS HE SUPPORTED LAST YEAR’S INTEREST RATE CUTS, POLICY ROUGHLY IN NEUTRAL STANCE FED'S JEFFERSON: JOB MARKET SOFTER ON REDUCED DEMAND, IMMIGRATION ISSUES