Fed Daly: Two interest rate cuts expected in 2025, tariff impact may be weaker than expected
2025-07-10 19:53:52
San Francisco Fed President Daly said she still thinks there could be two rate cuts this year, noting the likelihood that tariffs will have a more modest impact on prices than expected is rising. Daly revealed that some companies are negotiating to share the cost of tariffs, so as to reduce the proportion passed on to end point consumers. She said the U.S. economy is in good shape, with growth and consumer spending slowing, but not yet abating. Inflation is moving towards the Fed's 2 percent target. "I think there could be two rate cuts, but everyone's expectations are uncertain, looking at a rate cut in the fall," Daly said.
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