Mary Daly Supports Federal Reserve Decision to Hold Rates

Mary Daly, President of the Federal Reserve Bank of San Francisco, expressed full support for the Federal Reserve System's decision to hold interest rates steady during its July policy meeting. Speaking at an economics conference on August 5, 2026, she stated that the central bank requires additional information to determine if current inflation, which remains above the 2% target, is caused by temporary supply shocks or a permanent trend.

Daly emphasized that the bank must remain vigilant and prepared to take action before the next monetary policy meeting in September as new data becomes available. She noted that the Federal Reserve has a significant amount of information it still needs to collect before making further adjustments to monetary policy.