According to Block Beats, Mary Daly, the President of the Federal Reserve Bank of San Francisco and a voting member of the Federal Open Market Committee for 2027, indicated in an interview that she is ready to begin easing monetary policy as early as next month. This comes after economic reports showed stronger-than-expected retail sales last month and an unexpected increase in wholesale prices.
Daly pointed out that although the labor market is slowing and the economy is contracting, it is not happening at a slow pace. She emphasized that, since inflation remains above the Federal Reserve's target, there is justification for several rate cuts this year. Daly said, "We will wait for more data; we may cut rates less or more, but ultimately, I think that cutting rates twice this year is still a good expectation. What I don’t want is excessive worry about the possibility of inflation rising again or continuing, to the extent that it may lead to delaying action and failing to support the labor market."
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