Federal Reserve official Mary Daly stated that the economy is confronting a downside demand shock while managing inflation in a controlled manner. Daly emphasized the importance of inflation control in the current economic climate. She noted that the challenges faced by consumers and businesses are significant, particularly as demand fluctuates. This downside shock could impact economic growth and affect the overall market stability. Additionally, Daly highlighted that maintaining price stability is crucial for sustainable economic growth. The Fed’s approach is geared towards balancing the risks associated with both demand and inflation, ensuring the economy remains resilient despite these challenges.
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