San Francisco Fed President: Support rate cut decision this week, excessively tight monetary policy may not be beneficial to households.

Mary Daly, President of the Federal Reserve Bank of San Francisco, stated that the decision to lower interest rates this week was not easy for the Federal Reserve, but she ultimately supported the move. In a post on LinkedIn, she said, "Real wage growth comes from long periods of stable economic expansion. And the current economic expansion is still in a relatively early stage." Daly said that the Federal Reserve must continue to bring inflation to the target level of 2%, but also must carefully protect the labor market. "Excessively tight policies can cause unnecessary harm to American families and leave them facing two problems: inflation above the target level and a weak labor market."