Fed’s Daly Says Muted Tariff Impact May Open Door to Cut in Fall

Federal Reserve Bank of San Francisco President Mary Daly said she’s seeing increasing evidence that tariffs may not lead to a large or sustained inflation surge, helping bolster the case for a rate cut in the fall.

“My modal outlook has been for some time that we would begin to be able to adjust the rates in the fall, and I haven’t really changed that view,” Daly said Thursday in an interview on Bloomberg Television.