'NO URGENCY': San Fran Fed president PUMPS BRAKES on rate cut and hike talk

• Fed policy is currently in a 'good place' with 'no urgency' for immediate rate adjustments, preferring a data-dependent approach.
• Inflation is above the Fed's 2% target, but the focus is on the 'direction of change' and whether it spreads beyond commodity-driven sectors like oil.
• The U.S. economy, particularly in the Western states, shows robust investment and growth, driven by areas like AI and data center build-out, with businesses feeling 'cautiously optimistic.'
• New Fed Chairman Kevin Warsh is expected to foster 'vigorous debates' among board members, focusing on the American people's welfare.

San Francisco Federal Reserve President Mary Daly expresses cautious optimism about the U.S. economy, noting strong investment and a 'spirit of spending,' particularly in the tech sector. She states there's 'no urgency' for immediate Fed rate adjustments, despite inflation remaining above target, preferring to wait for more data on the 'direction of change' and the resolution of geopolitical conflicts affecting oil prices.