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Fed’s Daly: Looking to see if productivity gains continue
By Agustin Wazne
Date Published: 10 Nov 2025 | Date Modified: 10 Nov 2025
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President of the Federal Reserve (Fed) Bank of San Francisco Mary Daly spoke in an interview with Bloomberg Television on Monday regarding inflation and monetary policy. She mentioned that inflation has remained relatively stable in terms of goods prices.
President of the Federal Reserve (Fed) Bank of San Francisco Mary Daly spoke in an interview with Bloomberg Television on Monday regarding inflation and monetary policy. She mentioned that inflation has remained relatively stable in terms of goods prices. Additionally, she noted that the recent rate cut has had a positive impact on the labor market, helping to maintain downward pressure on inflation.
Key takeaways
Inflation has been pretty contained in goods prices.
Rate cut so far has supported labor market, keeps downward pressure on inflation.
Policy in a good place.
Can't take eyes off inflation.
Looking to see if productivity gains continue.
If unpack inflation data, don't see inflation rising in services, housing, or inflation expectation.
Don't want to make mistake of holding on to rates too long.
Slowing wage growth shows it's a negative demand shock in labor market.
Asset valuations reflect higher productivity expectations, whether AI ends up to be transformative or not.
Don't see evidence that monetary policy doesn't transmit to economy. “
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