Fed's Daly Says Policy Division Is Less Important Than FOMC Action

• FOMC's unanimous decision to hold rates steady is more significant than perceived internal divisions.
• It is too early to conclude the rate-cutting cycle is over, with the Fed remaining data-dependent.
• Long-term inflation expectations are considered well-anchored, despite short-term fluctuations driven by energy prices.
• The Fed is committed to restoring price stability, but emphasizes patience and avoiding over- or under-reacting to economic shocks.

San Francisco Fed President Mary Daly downplayed internal policy divisions, emphasizing the Federal Open Market Committee's (FOMC) agreement to hold rates steady. She noted it's too early to determine the end of the rate-cutting cycle, highlighting the Fed's commitment to price stability and well-anchored long-term inflation expectations. Daly stressed patience and data dependency in future policy decisions.