A post by @FirstSquawk on X.
FED'S DALY: WHEN YOU STEP BACK FROM 'PAINFUL' VOLATILITY, THIS IS THE KIND OF REBALANCING THAT YOU WOULD HOPE FOR
@FirstSquawk on X
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San Francisco Fed President Mary Daly characterized the recent market volatility as “painful” but said that, viewed from a broader perspective, it represents the kind of rebalancing policymakers would hope to see. The remarks, delivered via a First Squawk tweet, suggest the Fed is inclined to look through short-term turbulence rather than treat it as a signal of deeper dysfunction. Her comments matter because they hint at tolerance for continued tightening and balance-sheet adjustment even as markets swing. Traders will watch upcoming Fed communications and economic data for confirmation that this rebalancing view holds.
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Named in this story
Mary Daly, Federal Reserve