Daly Says Fed Should ‘Keep an Open Mind’ About December Rate Cut

Federal Reserve Bank of San Francisco President Mary Daly said the US central bank should “keep an open mind” about the possibility of another interest-rate cut at its next policy meeting in December.

Daly, speaking Monday at the Forum Club of the Palm Beaches in West Palm Beach, Florida, said she agreed with the Fed’s decision last week to lower its benchmark rate by a quarter percentage point for the second month in a row, calling the move “appropriate.”