Summary
San Francisco Federal Reserve President Mary Daly supports more interest rate cuts to help avoid job losses and manage the economy, despite strong growth. Daly notes that while hiring is slow, inflation from tariffs might not last long, making rate cuts necessary. She emphasizes that their main goals are stable prices and full employment, not just growth.
Key Facts
- Mary Daly is the President of the San Francisco Federal Reserve.
- Daly advocates for more interest rate cuts to prevent job losses.
- Despite strong economic growth, job creation is weak and inflation is high.
- The Federal Reserve aims for price stability and full employment.
- Daly believes current tariffs won't cause long-term inflation.
- The unemployment rate is low, but hiring has slowed significantly.
- Daly references the Beveridge Curve to highlight potential job market risks.
- The Federal Reserve has been cautious about cutting rates due to past tariff uncertainties.
