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Fed Chair Daly Reaffirms Dual Mandate, Open to New Economic Assessment Methods on July 2

GateNews
According to Fed Chair Daly, on Thursday, July 2, the central bank will maintain a slightly restrictive policy stance to bring down inflation, which should begin to ease from current elevated levels. Speaking at a Spanish central bank event in Santander, Daly acknowledged significant economic uncertainty ahead and outlined multiple scenarios that may require different Federal Reserve responses. She noted that inflation surged earlier this year due to tariffs and oil price spikes following U.S.-Iran military tensions, but expressed hope that recent moderation in oil prices following ceasefire discussions signals relief. Daly stated the Fed may need a more aggressive response to persistent inflation if conditions warrant, while emphasizing that protecting the central bank's credibility requires maintaining its dual mandate of full employment and price stability, even as she expressed openness to adopting novel methods for economic assessment.
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