Fed’s Mary Daly Sparks Market Optimism

Federal Reserve Bank of San Francisco President Mary Daly who has consistently reaffirmed the central bank’s commitment to curb inflation by raising interest rates, surprised investors by stating that the time has come “to start talking about stepping down” the pace of rate hikes. Daly’s comments were taken as an indication that the magnitude of further interest rate hikes could soon diminish.

Her comments came a day before the Federal Reserve began its blackout period ahead of the November 1-2 monetary policy meeting. Daly’s observations also came ahead of the latest round of

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