Fed's Daly: There's a lot of room to slow labor market

In an interview with CNN on Wednesday, San Francisco Fed President Mary Daly reiterated that the Federal Reserve is committed to getting inflation down, as reported by Reuters.

Additional takeaways

"Inflation hasn't gotten into Americans' psychology."

"Americans have faith Fed can bring inflation down."

"We need further rate hikes, hold policies until we are truly done with getting inflation down."

"There's a lot of room to slow labor market, I expect unemployment to rise to 4.5%."

"We have a narrow path for softer landing."

Market reaction

These comments did little to nothing to help the dollar find demand. As of writing, the US Dollar Index was down 0.6% on the day at 110.97.