Federal Reserve’s Playbook: Shaking the Calendar, Not the Economy
Mary Daly just got back from the Fed’s town‑hall and the message is crystal clear: the Fed’s still rocking the “tight but fair” corner of monetary policy. It’s not a free‑fall yet—just a cautious glide.
September’s Rate Cut – A Gentle Tap on the Wrist
- Cut to 4.75%–5% – a modest dip that shows we’ve made a hit, but we’re not letting the brakes off just yet.
- Even after the cut, the Fed remains “hard‑on‑inflation”, keeping the price tag in check.
- “The story’s not finished,” Daly warns. “It’s a marathon, not a sprint.”
The Fed’s Optimistic Yet Cautious Mood
With inflation easing and the labor market cooling, the central bank feels good vibes. But Daly’s frank reminder? Progress can haz‑y.
- Continuing gains not guaranteed.
- Calls for vigilance and intentional policy moves.
- She’s dreaming beyond a “soft landing.” Instead, it’s about laying a solid bridge to long‑term growth.
Neel Kashkari’s Take – Small Steps, Big Signals
Granddaddy of the Fed’s newest voice says it’s ok to keep nudging rates lower in the next cycle.
- Data‑driven decisions remain top priority.
- Balancing act: 2% inflation target vs. full employment.
- Both officials … one’s your dad, the other your uncle, both insisting on the same calculi‑time.
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