Federal Reserve's Daly: The economy is experiencing a negative demand shock despite inflation being under control.

Federal Reserve Bank of Canada President Mary Daly stated that the U.S. economy may be suffering from weak demand, while tariff-related inflation currently appears to be under control. Daly, who is not currently a voting member of the Federal Open Market Committee (FOMC), did not specify what action would be taken at the upcoming December meeting, stating, "To formulate the right policy, we need to maintain an open mind and dig deep into the evidence on both sides of the debate." Daly added, "So far, the impact of tariffs has been largely confined to goods and services, with little spillover to services inflation or inflation expectations, which remain relatively firmly anchored near our target." (Jinshi)