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- Fed’s Daly sees increased odds of a 50-bps May rate hike – FT
Fed’s Daly sees increased odds of a 50-bps May rate hike – FT
In an interview with the Financial Times (FT), San Francisco Fed President Mary Daly said that the odds of a 50-basis points (bps) rate hike at the next policy meeting in May have grown, in a sign that the US central bank is preparing aggressive moves to bring persistent inflation under control.
Key quotes
“The case for 50, barring any negative surprise between now and the next meeting, has grown.”
“I’m more confident that taking these early adjustments would be appropriate.”
“Estimating the neutral policy rate to be between 2.3 percent and 2.5 percent, and advocating for getting to that level “efficiently” this year.”
Market reaction
The US dollar index is off the three-day highs of 98.74 but preserves most of the previous week’s gains around 98.60, as of writing.
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