Recap of remarks from Fed’s Daly – base case is +50bp in September, open to +75

Earlier:

  • Comments incoming from Fed’s Daly – not only looking at 1 CPI report
  • More from Fed’s Daly: repeats that 3.4% is about right for Fed Funds for the end of 2022

Daly is often seen as a mouthpiece for Fed Chair Powell, hence here remarks are heeded.

James Rogers

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