Fed's Daly Says 'Premature' to Decide on December Rate Cut

Watch Fed's Daly Says 'Premature' to Decide on December Rate Cut - Bloomberg on Dailymotion

Transcript

00:00I think it's just essential to continue to get the right information before we make a call.

00:05To my mind, it's premature to say definitely no cut or definitely a cut.

00:11What's more important is to say the direction of change in policy is looking like it'd be towards neutral.

00:18How quickly we make those decisions to get to neutral will depend on the incoming information

00:23and what it tells us about the evolution of the economy, the most likely evolution.

00:30So I really think there's a premium on waiting to decide until you have as much information as you can possibly have to make a good decision,

00:38but not waiting so long that you become inactive because you're paralyzed with not having the last piece of information you think you might use.

00:47So I've got about four weeks before the next meeting, and there's a lot of information that comes out between now and then.

00:52And so that's why I have an open mind, but I haven't made a final decision on what I think,

00:59and I'm looking forward to debating it with my colleagues.