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San Francisco Fed President Mary Daly told CNBC that “consumers are preparing for slower economy, that’s a good start.” She added that Fed wants to see “economy slow” to “get inflation down”, and “slower inflation, labor market are encouraging “.
She also said “pausing” the tightening cycle is “not part of the discussion” right now. The focus is on “level of rates”. She added, “I still think 5% is reasonable” as an “ending place for rates”. Also, “a range of 4.75% – 5.25% is reasonable for policy rate end-point.”
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