Fed's Daley: open to rate cut at September meeting, doesn't see labour market weakness worsening
2024 FOMC Voter and San Francisco Fed President Daley delivered a speech saying that the Fed's mission and the risks it faces are coming into balance, and that it is open to cutting rates at the upcoming (September) meeting. Daley said, "The underlying data from the July jobs report provides some grounds for confidence that we are slowing, but not in a meltdown. I don't see labour market weakness intensifying now and will be watching closely to see if the next jobs market report reflects the same dynamics or a reversal. If we react to just one data point, that will almost always be wrong."
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