-
San Francisco Fed president Mary Daly told Axios on Friday that it's not clear whether inflation is definitively receding and there is no "urgency" to adjust interest rates. Why it matters: Inflation cooled for the first time in 2024 last month, relieving economists that progress might not have stalled out. But one month of data has not convinced Fed officials that price pressures are evaporating in a way that puts near-term interest rates back on the table. What they're saying: "Fortunately, policy is in a very good place. We are in what I call the ready position," Daly told Axios at the University of San Francisco. "We can adjust policy as we need to." • Earlier this month, the Fed acknowledged signs that progress on inflation had stalled. That's raised questions about whether decades-high interest rates might need to be pushed up further to wrestle inflation down. post: FED'S DALY: I AM NOT YET CONFIDENT INFLATION COMING DOWN SUSTAINABLY TO 2%. post: FED'S DALY: I EXPECT IMPROVEMENT IN SHELTER INFLATION, JUST NOT RAPIDLY.
-
London equities kicked off the week on a positive note, helped by a rally among metal miners and defence stocks, while investors await comments from the Bank of England for hints on the central bank’s interest rate trajectory. The blue-chip FTSE 100 shook off its recent slump, climbing 0.3%, and breaking free from the two back-to-back sessions of losses. ...