Daly says Fed should hold rates steady for now, still sees room for two cuts this year

San Francisco Fed President Mary Daly said on May 29 that while two interest rate cuts remain on the table for this year, the central bank should keep rates unchanged for now to confirm inflation is heading toward its 2% goal. According to Reuters, Daly noted she sees no signs of labor market weakness so far and is closely watching whether inflation continues to ease or shows signs of persistence.