Federal Reserve Bank of San Francisco President Daly anticipates that interest rates will decrease as the labor market weakens

San Francisco Federal Reserve Chair Mary Daly said on Monday that she expects interest rates to be cut later this year, but declined to provide a timetable or the extent of the rate cuts by the central bank. She stated that it has now been confirmed that the labor market is slowing down, and it's extremely important not to let it slow down too much so as not to turn into an economic recession. She will make every effort to ensure two goals: price stability and full employment, and will adjust policies based on economic data and required conditions.