Fed’s Daly: FOMC May Cut Rates in the Fall

On June 21, Mary Daly, President of the Federal Reserve Bank of San Francisco (and a 2027 FOMC voting member), stated, "When it comes to rate cuts, we cannot wait until all fundamental conditions are perfectly aligned before taking action. Personally, having more information may lead to a rate cut in the fall. I do not want to see the U.S. job market shift from showing signs of softening to actual weakness. So far, both the U.S. economy and FOMC monetary policy are in good shape."