On June 21, Daly, the President of the Federal Reserve Bank of San Francisco (2027 FOMC voting member), stated, "When it comes to interest rate cuts, we cannot wait until all the fundamental conditions are met to take action. For my part, having more information might lead to a rate cut in the fall. I do not want the U.S. job market to transition from showing softness to showing weakness. So far, the U.S. economy and FOMC monetary policy are in good shape."