Fed’s Daly Sees Two Cuts in 2025, Says Tariffs’ Price Hit May Be Muted

Federal Reserve Bank of San Francisco President Mary Daly said she still views two interest rate cuts as likely this year and sees a greater chance that the price effects from tariffs may be more muted than anticipated.

Daly said some firms are negotiating to split up tariff costs so that they don’t have to pass along as much of the expense to their end customer.