Fed’s Daly Signals Openness to Interest-Rate Cut in September

Federal Reserve Bank of San Francisco President Mary Daly suggested policymakers will be ready to lower interest rates soon, adding that inflation stemming from tariffs will likely prove temporary.

“It will soon be time to recalibrate policy to better match our economy,” she wrote Friday in a brief social media post shared by the San Francisco Fed. She said tariff-related price increases “will be a one off.”

“It will take time before we know that for certain,” she wrote. “But we can’t wait for perfect certainty without risking harm to the labor market.”

Fed officials have held interest rates steady ...