San Francisco Fed President Daly: The Fed should not wait too long to start cutting interest rates.

Mary Daly, president of the Federal Reserve Bank of San Francisco, said she still believes it is reasonable for policymakers to plan two interest rate cuts this year. She also emphasized that the Fed should not wait too long to take action. Daly pointed out that businesses are still facing tariffs from President Trump, while consumers continue to spend, allowing the Fed to maintain interest rates unchanged while inflation approaches the 2% target. "But at the same time, you can't wait forever, because if we wait until inflation reaches 2% to act, then we have lost, we may have already caused unnecessary harm to the economy in a completely unnecessary way," Daly said.