Fed's Daly Sides With 'Gradualism Approach' to Rates

The transcript discusses the current economic situation, highlighting progress in inflation and labor market balance. It evaluates whether the current policy rate is appropriate, suggesting a recalibration to avoid stalling growth. The speaker advocates for a gradualism approach over a cold turkey method, especially in uncertain economic conditions. The focus is on data dependence and cautious policy adjustments to ensure economic stability.

What approach does the speaker advocate for in response to economic uncertainty?

Explain the concept of 'watchful waiting' in the context of economic policy as discussed in the text.