BlockBeats news, August 7, San Francisco Fed President Daly stated on Wednesday that considering the slowdown in the labor market and her assessment that tariffs pose only a short-term threat to inflation, she believes the Fed will need to cut interest rates soon. "Without tariffs, inflation has been gradually declining, and with the economic slowdown and monetary policy still being restrictive, inflation should continue to decrease." She added that while tariffs will raise inflation in the short term, they are unlikely to have a lasting impact. Meanwhile, the labor market has already weakened. "I think further slowing will be concerning; once the labor market starts to wobble, it tends to decline rapidly and severely. All of this means we are likely to need to adjust policy in the coming months." (Golden Ten)