Fed's Daly: Fed can adjust policy at appropriate times

Fed's Daly said that inflation data showed that it was cooling down and the policy effect was in line with expectations. Monetary policy needs longer to work, but it is working, and there is evidence that the policy is tight enough. The Fed has not yet completed its mission, but today's personal consumption expenditure data is "good news." If inflation remains stable or falls slowly, interest rates will need to remain at a higher level for a longer period of time. If inflation falls or changes occur in the labor market, the Fed can adjust its policy in a timely manner. (Jinshi)