US Fed should not act urgently when it's not required, Daly says

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San Francisco Federal Reserve Bank President Mary Daly stated that there is no urgency to cut U.S. interest rates, as the economy and labor market are strong, and inflation is still above the Fed's 2% target. Daly made these remarks at the Stanford Institute for Economic Policy Research. The Fed is expected to hold its policy rate steady in the 5.25%-5.5% range until mid-September and then cut rates twice before year-end. However, higher-than-expected inflation in the first quarter and strong consumer spending and labor market conditions have raised doubts about the need to ease policy. Daly emphasized the importance of being confident that inflation is headed toward 2% before considering easing policy.

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https://finance.yahoo.com/news/us-fed-not-act-urgently-005422721.html