Fed’s Daly Says Still Comfortable With Two Rate Cuts in 2025

Federal Reserve Bank of San Francisco President Mary Daly said she was still comfortable with projections the Fed released in March showing officials expect to lower interest rates twice before the end of the year.

“We want to keep the policy rate modestly restrictive for now until we are sure that inflation is going to hit that 2% target,” Daly said Friday during an interview with Fox Business. “So I’m still comfortable with the Summary of Economic projections, which we put up in December and in March, that said two rate cuts seem like a good forecast.”