Fed's Kugler, Daly say job not done on taming inflation

The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week.

Costfoto | Nurphoto | Getty Images Federal Reserve Governor Adriana Kugler on Saturday said the U.S. economy ended 2024 in a good place, with inflation down from its peak and the labor market near full employment, but the U.



S. central bank's job on taming inflation is not yet done. Speaking at the same panel, San Francisco Fed President Mary Daly said she too feels inflation is "uncomfortably" above the Fed's 2% goal.

Still both she and Kugler said they want to avoid further slowing in the labor market. This is a developing story. Please check back for updates.

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