Inflation message from San Francisco Fed President Daly

San Francisco Fed President Mary Daly said there is “increasing confidence” that inflation is moving toward the 2% target set by the U.S. central bank for policymakers to cut interest rates. San Francisco Fed President Mary Daly said inflation has fallen, increasing confidence that it is heading toward 2%. “Inflation is coming down and it’s doing so in a way that’s building confidence, and we’re getting closer to a sustainable pace of bringing inflation down to 2%,” Daly said at an event on Monday. “We have a lot more information to get before we can make a real decision,” she said, noting that the economy is slowing and policymakers need to pay attention to labor market risks as well as inflation.