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5/24, 1:25 AM (Source: TeleTrader)
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Fed's Daly says US economy has momentum

San Francisco Federal Reserve Bank President Mary Daly told Fox News the Fed is committed to controlling inflation and that it will continue raising its rates to a neutral point to where they are no longer stimulating the economy.

The official said inflation is currently too high but that the US economy is strong enough to "weather this storm." "I think that we can weather this storm, get the interest rate up, price stability restored and still leave Americans with jobs a plentiful and with growth expanding as we expect it to."

Baha Breaking News (BBN) / NL