Daly's full endorsement of the Fed's decision to hold rates steady, combined with her cautious but data dependent framing ahead of September, suggests markets should not read her earlier comments on fading tariff effects and a potential Middle East resolution as signalling imminent easing. Her comment on businesses having limited pricing power to pass on higher costs offers some support to the view that current price pressures may prove less persistent, a dynamic that could ease bond market concerns if borne out in upcoming data. Earlier:Daly says the Fed was right to hold rates steady but is watching closely for any sign inflation momentum is rebuilding before September's meeting. The Federal Open Market Committee voted last week to hold its federal funds rate target steady in a range of 3.5% to 3.75%, amid ongoing concern over elevated price pressures. She pointed to businesses currently having limited pricing power, meaning many companies are struggling to pass higher input costs on to consumers, a dynamic that could help contain broader price pressures.