Fed’s Daly: Two rate cuts likely, but sticky inflation could delay easing

San Francisco Fed President Mary Daly said she remains comfortable with expectations for two rate cuts this year but warned that persistent inflation could reduce that number, according to foreign media. Daly emphasized a gradual approach to lowering policy rates without urgency and reaffirmed the Fed’s core commitment to restoring price stability. She added that while the U.S. labor market remains stable, inflation control has yet to be achieved.