BlockBeats News, July 2nd, Federal Reserve's Daly stated that inflation should start to ease, but there is significant uncertainty in the economic outlook. Daly said on Thursday at a Bank of Spain event in Santander: "We continue to hold policy at a slightly restrictive level, so inflation should come down." Inflation was boosted this year by spring tariffs and rising oil prices following the US war with Iran. Daly appreciated the easing momentum in oil prices after the US-Iran ceasefire agreement, calling it a "hope for relief," but warned that it is currently unclear how the economy will evolve. Daly outlined multiple scenarios that could require different responses from the Fed, suggesting that the Fed may need to take a more proactive approach to persistent inflation. Daly also noted an openness to using different and novel methods to assess the economy but stressed the importance for the Fed's credibility not to deviate from its dual mandate of promoting full employment and price stability.