Fed's Daley: 3% may be a good guess for neutral rate
Fed Daley believes that the Fed still has a few more rate cuts to make before monetary policy returns to neutral. Commenting on the federal funds rate, Daley said, ‘The truth is, we're still a long way from the level we might reach.’ She added that the nominal neutral rate is likely to rise before the outbreak, but the exact level is hard to predict with any accuracy. She said 3 per cent might be a good guess.
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