SF Fed President Mary Daly expects 1-2 additional interest rate cuts this year to prioritize labor market.

Mary Daly, president of the San Francisco Federal Reserve, indicated that the Fed is likely to implement one or two additional interest rate cuts this year as it prioritizes the labor market. Following a recent half-point reduction from a 23-year high, the Fed is now focused on data regarding inflation and employment conditions. Updated forecasts suggest that further cuts totaling 50 basis points may occur in the upcoming meetings.