Fed's Daly: Fed is positioned to wait and see

Federal Reserve (Fed) Bank of San Francisco President Mary Daly noted on Tuesday that the Fed is firmly planted in wait-and-see mode, specifically noting the chilling effect that economic uncertainty has on policymaking.

Key highlights

The economy is in a very good place.

There is continued momentum in the economy though there is uncertainty.

The Fed can take its time to look at data and policy changes.

Business contacts are optimistic.

We have to make sure we get inflation down, the Fed has not finished the job on inflation yet.

The Fed is in a good position to wait and see.

Businesses are bullish about the use of AI and a sense it will improve productivity.