Fed's Daly: Things are in balance

• So far the economy is in a good place and so is policy
• Concerns about tariff impact on inflation aren’t as large as they were when they were first announced
• Many possibilities on how much of tariffs pass through to customers
• Fundamentals of economy are moving to where an interest rate cut may be necessary
• CEOs have cautious optimism on tariffs
• I look more to the autumn rather than July for a rate cut
• Unless we see a faltering labor market, autumn looks more appropriate

This is a pushback against Waller from earlier but it’s not a surprise to the market, which is pricing a 15% chancee of a July cut.

This article was written by Adam Button at www.forexlive.com.