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The president of the San Francisco Federal Reserve, Mary Daly, anticipates that the Federal Reserve will likely implement one to two more rate cuts this year, with each cut of 25 basis points (1), during decision-making meetings where she has voting rights.

During a seminar at Boise State University in Idaho, Daly stated that the Fed will continue lowering rates this year to protect the U.S. labor market. She noted, "Based on my economic outlook, I believe that one to two rate cuts this year would represent the ideal range for interest rates," referring to the prospect of one or two cuts of 25 basis points.

Last month, the Fed cut rates by 50 basis points, exceeding market expectations. This substantial cut was prompted by signs of weakness in the labor market, along with a decline in inflation toward the Fed's 2% target.

Daly described the previous month's rate cut as a "recalibration," a term also used by Fed Chair Powell during the press conference explaining the cut, indicating that the aim was to sustain economic strength.

As inflation declines and the adjusted rates rise, they are increasingly hindering U.

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