Odaily Planet Daily News: Fed's Daly said that inflation data shows that it is cooling down and the policy effect is in line with expectations. Monetary policy needs longer to work, but it is working, and there is evidence that the policy is tight enough. The Fed has not completed its mission, but today's personal consumption expenditure data is "good news." If inflation remains stable or falls slowly, interest rates will need to remain at a higher level for a longer time. If inflation falls or changes occur in the labor market, the Fed can adjust its policy in a timely manner. (Jinshi)