Fed's Daley: 3% may be a good guess for neutral rate
Fed Daley believes that the Fed still has a few more rate cuts to make before monetary policy returns to neutral. Commenting on the federal funds rate, Daley said, ‘The truth is, we're still a long way from the level we might reach.’ She added that the nominal neutral rate is likely to rise before the outbreak, but the exact level is hard to predict with any accuracy. She said 3 per cent might be a good guess.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Sources say the US and Russia will hold talks in Miami this weekend.
The US Dollar Index rose by 0.23% on the 17th.
The Dow Jones Index closed down 228.29 points, with both the S&P 500 and Nasdaq also declining.