Fed's Powell: Time to Cut Interest Rates

San Francisco Fed President Daly said she believes it is appropriate for the Fed to start cutting interest rates. Daly said in an interview on Monday: "The labor market has reached full balance. The time to adjust policies has come." This view is consistent with Fed Chairman Powell's remarks last week. Powell said at the Jackson Hole symposium last week that he is confident that the inflation rate is on track to return to 2%, also stating that "the time to adjust policies has come." Daly emphasized that the Fed must bring the inflation rate down to the 2% target, but she and her colleagues will also work to prevent restrictive policies from harming the labor market