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MNI BRIEF: Fed's Daly Sees 1 or 2 More Rate Cuts This Year

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MNI (WASHINGTON) - San Francisco Fed President Mary Daly said Tuesday if inflation continues to gradually fall and the labor market remains broadly in place then it would be a "reasonable thing" for the central bank to cut one or two more times by the end of the year. 

"It's clear the direction of change is down," she said in Q&A at a New York University event. "The question is what's the pace?" Daly also noted that if inflation proves stickier than her baseline outlook then it could mean fewer cuts, and if the labor market falters a little more or inflation comes down more rapidly then there could be faster cuts. (See: MNI POLICY: Fed To Scale Back To 25BP As US Outlook Stays Rosy)

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MNI (WASHINGTON) - San Francisco Fed President Mary Daly said Tuesday if inflation continues to gradually fall and the labor market remains broadly in place then it would be a "reasonable thing" for the central bank to cut one or two more times by the end of the year. 

"It's clear the direction of change is down," she said in Q&A at a New York University event. "The question is what's the pace?" Daly also noted that if inflation proves stickier than her baseline outlook then it could mean fewer cuts, and if the labor market falters a little more or inflation comes down more rapidly then there could be faster cuts. (See: MNI POLICY: Fed To Scale Back To 25BP As US Outlook Stays Rosy)