According to Dolphin Research, Mary Daly, the President of the Federal Reserve Bank of San Francisco, stated that she is not yet ready to declare victory in the fight against inflation. The Federal Reserve is still committed to &#34;suppressing price pressures as gently as possible.&#34; Daly stated on Friday that &#34;we will not be satisfied until we have more confidence in inflation returning to a path of price stability.&#34;
The Federal Reserve kept interest rates unchanged in the 5.25%-5.5% range, which is the highest level in 22 years. Most policymakers indicated that they are inclined to raise rates again this year. Officials also lowered their expectations for rate cuts next year, indicating that they expect rates to remain at higher levels for a longer period to curb inflation.
Daly does not have voting rights on monetary policy this year. She stated that in her view, policymakers decided to keep rates unchanged &#34;to allow more time to gather the necessary information.&#34; Based on the economic forecasts released this week, she did not comment on whether she expects the Federal Reserve to raise rates again this year. Daly stated that despite the recent optimistic economic data, she is still closely monitoring short-term inflation expectations due to rising energy prices, whether the labor market continues to slow down, and the overall inflation trend. She said, &#34;All of these are part of the equation, or you could say the data dashboard, that we will closely monitor.&#34;

San Francisco Fed President Mary Daly said she is not yet ready to declare victory in the fight against inflation.

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