📉 President of the San Francisco Fed Mary Daly stated that she expects rate cuts as early as September, despite strong sales data and rising prices in July.
👩💼 According to her, the economy is "slowing down, but not slow," and the labor market is cooling → this justifies 1-2 cuts this year.
📊 Fed futures show an 83% chance of a 0.25% cut in September and only a 17% chance that the rate will remain unchanged.
✅ Conclusion: the baseline forecast is two cuts in 2025.
