Fed's Daly: premature to decide on December rate cut

Investing.com -- San Francisco Federal Reserve President Mary Daly said Thursday it’s too early to determine whether a rate cut is appropriate for December, though she noted the general direction for policy rates is downward.

"I have an open mind, but I haven’t made a final decision on what I think," Daly stated during an event in Dublin, Ireland. "To my mind, it’s premature to say definitely no cut or definitely a cut."

Daly emphasized that uncertainty in the U.S. economy has decreased significantly, describing the current economic climate as one of "cautious optimism." She noted that while inflation is trending downward, it remains stubborn, and the Fed still has work to do to bring it down to its 2% target.

The labor market "has slowed quite a bit," according to Daly, who believes there is value in waiting to make interest rate decisions until more information becomes available.

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