Fed’s Daly Hints at Possibility of Two Rate Cuts This Year

According to ChainCatcher, citing Jinshi News, San Francisco Federal Reserve President Mary Daly stated in an interview that, given last month's stronger-than-expected retail sales and the unexpected surge in wholesale prices, she is still prepared to begin easing policy as early as next month. Daly pointed out that despite a weakening job market and a slowing economy, “cutting rates twice this year remains a very good forecast” compared to inflation that is still above the Fed’s target.