DALY said inf should begin to slow but the economic outlook is highly uncertain. The Fed is maintaining a modestly restrictive stance, which she said should help reduce inf. She said spring tariffs and oil-price increases after U.S.-Iran hostilities pushed up inf, welcomed the retreat in oil-driven pressure after a ceasefire, but warned it’s unclear how the economy will evolve. DALY outlined scenarios that could require different Fed responses and said the Fed may need to act more forcefully if

DALY said inf should begin to slow but the economic outlook is highly uncertain. The Fed is maintaining a modestly restrictive stance, which she said should help reduce inf. She said spring tariffs and oil-price increases after U.S.-Iran hostilities pushed up inf, welcomed the retreat in oil-driven pressure after a ceasefire, but warned it’s unclear how the economy will evolve. DALY outlined scenarios that could require different Fed responses and said the Fed may need to act more forcefully if inf remains persistent, while stressing the Fed must not change its dual mandate of maximum employment and price stability.