November 13, 2019 / 8:06 PM / 25 days ago

Fed's Daly says she's watching global growth, trade uncertainty

FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir.

(Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Wednesday said the U.S. central bank’s interest rate cuts this year are countering headwinds that threaten economic growth, but she’s “open to the idea that the risks are on the downside.”

“I see the policy accommodation we’ve taken out as sufficient to offset the shocks and the headwinds blowing against us,” Daly told Bloomberg TV. If global growth gets slower, trade negotiations drag on and the uncertainty hurts business spending, or “the manufacturing slowdown starts to trickle into consumer confidence, then that could materially change the outlook in a way that would make me, again being very data dependent, rethink this issue.”

Reporting by Lindsday Dunsmuir and Ann Saphir; Editing by Chizu Nomiyama

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