Reported about 23 hours ago
Mary Daly, president of the San Francisco Federal Reserve, emphasizes the importance of addressing inflation as the Fed reduces interest rates for the third consecutive time in 2024. Although a recent rate cut brings the range to 4.25% to 4.5%, Daly insists that the Fed's objective is to achieve a stable inflation rate of 2%, which she believes is critical for building trust in the institution. The market reacts to the Fed's cautious stance on future cuts, amid speculation about possible economic policies from the incoming Trump administration, leading to significant fluctuations in stock prices.
Source: YAHOO