Fed’s Daly says the next rate will likely be reduced in the fall
San Francisco Federal Reserve Bank President Mary Daly said interest cuts would be better this fall than moving in when policymakers gather in July.
“For me, I’m seeing more autumn,” Daly said in an interview with CNBC on Friday. “By then, we have a fair amount of information and companies say that’s what they see for a certain degree of solution.”
Daly called out recent inflation data – which has been unexpectedly tamed for the third consecutive month – “really good news,” but warned against moving too quickly.
“I’m not going to take the lead. I want to balance the two goals we have,” she said.
Earlier on Friday, Fed Gov. Christopher Waller said he believes the central bank could lower prices as early as July. The Fed’s next meeting is scheduled for July 29th-30th.