San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year.
"How much that needs to be done and when it needs to take place, I think that's going to depend a lot on the incoming information," she said during a forum in Hawaii. San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year but declined to provide a timetable or the extent to which the central bank will ease.starting in September, Daly said progress on inflation and a clear slowdown in hiring likely will drive the Fed to some extent of policy easing.
"Policy adjustments will be necessary in the coming quarter. How much that needs to be done and when it needs to take place, I think that's going to depend a lot on the incoming information," she said during a forum in Hawaii."But from my mind, we've now confirmed that the labor market is slowing and it's extremely important that we not let it slow so much that it turns itself into a downturn.
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