San Francisco Fed President Mary Daly said yesterday that she is uncomfortable with current direction of inflation. And, “headwinds, slowing growth could strengthen argument for rate cut.” And that could help “bring the economy back to potential growth, support return of inflation to target”

However, she emphasized that it’s a “challenging time” and “risk management is on my mind”. wants to “see another US jobs report to see if last report was noise or a more meaningful sign.” Also, the next several weeks will be key to showing how much of an argument there is for a rate cut.

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