Fed's Daly: Time to cut interest rates

On August 27, San Francisco Fed President Daly said she thought it was appropriate for the Fed to start cutting interest rates. "The labor market is fully balanced," Daly said in an interview on Monday. "The time to adjust policy has come."

This view echoes Fed Chairman Powell's remarks last week, who said at the Jackson Hole Symposium last week that he was confident that inflation was on its way back to 2%, and also said "the time to adjust policy has come." Daly stressed that the Fed must get inflation down to its 2% target, but she and her colleagues will also work to prevent restrictive policies from harming the labor market.