Fed's Daly: Growing uncertainty among businesses could slow demand in the US economy

President of the Federal Reserve Bank of San Francisco, Mary Daly, said late Sunday that rising uncertainty among businesses could dampen demand in the US economy but does not justify a change in interest rates.

Key quotes

Business leaders in her district report heightened uncertainty about the economy and policy, which research suggests can reduce demand.

Federal Open Market Committee (FOMC) does not need to adjust rates when it meets next week.

Believes current interest rates are appropriate.

Believes the economy remains strong.

Market reaction 

At the time of press, the US Dollar Index (DXY) was down 0.13% on the day at 103.70.