Fed's Daly: Latest data suggests Fed may need to make interest rate adjustments

Mary Daly, President of the Federal Reserve Bank of San Francisco, stated that given recent employment and inflation data, the Federal Reserve may need to make some adjustments to interest rates, but she did not provide a specific timeline for rate cuts. Following the release of June CPI data, Daly said in a conference call, "It is clear that the risks to the dual mandate of stable inflation and full employment are better balanced, and monetary policy is working." She stated, "Based on the information we have received so far, including employment, inflation, GDP growth, and economic outlook data, I believe that it may be necessary to make some adjustments to monetary policy"