Fed’s Daly: If inflation stays elevated, we would hold steady

Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, told Reuters in an interview on Friday that if Iran conflict is resolved quickly and Oil prices come back down, a rate cut may not be out of the question. Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, told Reuters in an… Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, told Reuters in an interview on Friday that if Iran conflict is resolved quickly and Oil prices come back down, a rate cut may not be out of the question. Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, told Reuters in an interview on Friday that if Iran conflict is resolved quickly and Oil prices come back down, a rate cut may not be out of the question.Key takeaways:If Iran conflict resolves quickly and oil prices come back down, a rate cut is 'not out of the question'. If inflation stays elevated for longer than anticipated… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.