The president of the San Francisco Fed downplayed the differences in the Fed's statement, saying that the wording of the statement is less important than the actions.

San Francisco Fed President Mary Daly played down the internal Fed differences over the wording of the policy statement, emphasizing that the committee's actions are the true policy signal.

Daly said in an interview on Thursday that "the wording of the statement is less important than the action of the (Federal Open Market Committee)," and pointed out that the real signal of this meeting was that "everyone agreed on this decision." She also said she would not oppose voting.

At the interest rate meeting last month, three voting committee members raised objections to the wording in the post-meeting statement that suggested a future resumption of interest rate cuts.

They believe that the Iran war has pushed up oil prices and raised economic uncertainty, and the policy statement should weigh the possibilities of raising and lowering interest rates equally. This rare multiple dissent has drawn market attention to the Fed's policy path.

The energy price shock has yet to be transmitted to inflation expectations, and the current monetary policy is in a "moderately restrictive" zone.

Daly said there are currently no signs that the surge in energy prices is driving up medium- and long-term inflation expectations.

She pointed out that it is "too early to draw a conclusion" at this stage. If the conflict in Iran ends, oil prices fall and do not spread to the broader economy, the previous macroeconomic fundamentals are expected to return.

Daly believes that the current monetary policy is in a "mildly restrictive" range. Once the conflict between the United States and Iran is resolved, it will exert downward pressure on inflation.

Meanwhile, the labor market remained stable and did not generate inflationary pressure, providing the Fed with policy space during the period of observation.

Risk Warning and Disclaimer Clause

The market involves risks, and investment should be made with caution. This article does not constitute personal investment advice and has not taken into account the individual investment objectives, financial situation or needs of any specific user. Users should consider whether any opinions, views or conclusions in this article are suitable for their particular circumstances. Any investment made based on this article is at the user's own risk.