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San Francisco Fed President Mary Daly: No. of Evidence of Weakening Job Mkt Increases; Rate Cut Timing Approaching
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San Francisco Fed President Mary Daly said that, given the increasing evidence of a weakening US job market and the no signs of continuous tariff-driven inflation, the timing for the Fed's rate cut is approaching, according to Reuters. Daly emphasized that this does not mean a rate cut in September is certain, but she tended to believe that every upcoming meeting is an opportunity to consider rate adjustments. There is still a lot of data before the September monetary policy meeting, including multiple labor market and inflation reports, and she remains open-minded, Daly added. If inflation ticks up and spills over, or if the labor market rebounds, the Fed may cut rates fewer than twice, but she believed that it is more likely that the Fed will need to cut rates more than twice, indicating that the Fed should be prepared to do more if the labor market appears to enter a weak period and inflation spillover is not observed. Daly further stated that the Fed's June forecast of two more rate cuts of 25 bps each this year still seems to be an appropriate readjustment, and whether the cuts occur in September and December is less important compared to whether they happen at all. AASTOCKS Financial News Website: www.aastocks.com |
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