Daly Says Fed Shouldn’t Wait Too Long to Start Cutting Rates (1)

Federal Reserve Bank of San Francisco President Mary Daly said she still thinks it’s reasonable for policymakers to plan on two interest-rate cuts this year, emphasizing that the central bank should not wait too long before moving.

Daly said businesses are so far tolerating President Donald Trump’s tariffs and consumers are still spending, which has allowed the Fed to maintain rates while inflation moves toward their 2% target.

“At the same time, you can’t wait forever, because if we wait til inflation is 2%, well then we’ve lost, we’ve likely injured the economy in some way that was completely unnecessary,” ...