(Reuters) -San Francisco Federal Reserve Bank President Mary Daly repeated on Thursday that the U.S. central bank likely needs to cut interest rates further, but it needs to move slowly as it balances risks to its twin goals of full employment and price stability.
“I think a little bit more will be needed over time to get that interest rate where it’s balancing out those two risks,” Daly said at the San Francisco Fed’s 2025 Western Bankers Forum. “If you adjust the path all at once, you risk one of the goals. … If you adjust the path gradually, assess the information before deciding, then you can actually get to a good achievement.”
(Reporting by Ann Saphir; Editing by Leslie Adler)
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