Fed's Daley: Rate cut necessary if inflation falls quickly or job market weakens more than expected
Fed Daley said that if inflation falls slower than expected, the policy rate must be maintained at a high level for a longer period of time; if inflation declines gradually, the labor market rebalance is slow, then the Fed can gradually adjust the policy; if inflation declines rapidly or the labor market is weaker than expected, reduce the policy rate will be necessary.
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