Fed's Daly: Time to Cut Interest Rates

Odaily Planet Daily News San Francisco Fed Chairman Daly said she believes it is appropriate for the Fed to start cutting interest rates. Daley said in an interview on Monday, "The labor market has achieved full balance. The time to adjust policies has come." This view echoes the remarks of Fed Chairman Powell last week. Powell said at the Jackson Hole Symposium last week that he is confident that the inflation rate is on the road to returning to 2%, and also said, "The time to adjust policies has come." Daly emphasized that the Federal Reserve must bring the inflation rate down to the target of 2%, but she and her colleagues will also strive to prevent restrictive policies from damaging the labor market. (Jin10)