Fed's Daly says inflation is above target, people feeling stretched; current policy is slightly restrictive; have 75bps to get to neutral; need to get inflation down

Fed's Daly says inflation is above target, people feeling stretched; current policy is slightly restrictive; have 75bps to get to neutral; need to get inflation down.

Fed's Daly's comments indicate a need for continued hawkishness, emphasizing that inflation persists above target levels and that current monetary policy is somewhat restrictive. This suggests the Fed may continue its aggressive approach, with potentially 75bps of hikes remaining to achieve neutral rates, which could have implications for the dollar and influence risk sentiment in the markets.