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Federal Reserve's Daly: Rate Cut Timing Is Near, More Likely to Cut Rates Over Twice This Year
BlockBeats News, August 5th, San Francisco Fed President Daly stated that given increasing evidence of a weak job market and no signs of tariff-driven inflation persisting, the time for a rate cut is approaching. Daly, when discussing the Fed's decision last week, said, "I'm willing to wait another cycle, but I can't wait forever."
While this does not mean that a rate cut in September is a done deal, she said, "I would lean towards the view that every meeting going forward is a live meeting for a policy adjustment." Daly stated that two 25-basis-point rate cuts this year still look like an appropriate recalibration, with the key being whether to cut in both September and December, rather than whether the cut will happen.
Daly said, "If inflation picks up and spreads, or if the labor market heats up, of course, we can have less than two cuts, but more likely, we would need to cut more than twice. If the labor market looks like it's moving into a soft phase and we don't see the spillover effects of inflation, we should be prepared for more cuts." (Kincentric)
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