Fed's Powell: Time to Cut Interest Rates
San Francisco Fed President Daly said she believes it is appropriate for the Fed to start cutting interest rates. Daly said in an interview on Monday: "The labor market has reached full balance. The time to adjust policies has come." This view is consistent with Fed Chairman Powell's remarks last week. Powell said at the Jackson Hole symposium last week that he is confident that the inflation rate is on track to return to 2%, also stating that "the time to adjust policies has come." Daly emphasized that the Fed must bring the inflation rate down to the 2% target, but she and her colleagues will also work to prevent restrictive policies from harming the labor market
According to data from FXStreet on August 27th, Mary Daly, President of the Federal Reserve Bank of San Francisco, stated that she believes it is appropriate for the Federal Reserve to start cutting interest rates. Daly said in an interview on Monday: "The labor market has reached full balance. The time to adjust policies has come." This view is consistent with the remarks of Federal Reserve Chairman Jerome Powell last week. Powell stated at the Jackson Hole Symposium last week that he is confident that the inflation rate is on track to return to 2%, also saying "the time to adjust policies has come." Daly emphasized that the Federal Reserve must bring the inflation rate back to the 2% target, but she and her colleagues will also work to prevent restrictive policies from harming the labor market