Fed’s Daly Says ‘Too Early to Tell’ on End of Rate-Cutting Cycle

Mary Daly said it is too early to conclude the Fed has ended its rate-cutting cycle, keeping policy optionality open. She highlighted consumer and producer inflation expectations as key indicators she is watching, underscoring ongoing sensitivity to inflation data. The remarks are broadly neutral but important for rate expectations and Treasury markets.

Analysis

Mary Daly said it is too early to conclude the Fed has ended its rate-cutting cycle, keeping policy optionality open. She highlighted consumer and producer inflation expectations as key indicators she is watching, underscoring ongoing sensitivity to inflation data. The remarks are broadly neutral but important for rate expectations and Treasury markets.