Fed Daly: The time has come to cut interest rates

On August 27, San Francisco Federal Reserve President Daley said she believes it is appropriate for the Federal Reserve to start cutting interest rates. "The labor market is fully balanced. The time has come to adjust policy," Daley said in an interview on Monday. The sentiment echoes comments by Federal Reserve Chair Jerome Powell last week, who told the Jackson Hole symposium last week that he was confident inflation was on its way back to 2 percent, also saying "the time has come to adjust policy." Daley stressed that the Fed must bring inflation down to its 2 percent target, but she and her colleagues will also work to prevent restrictive policies from damaging the labor market.