Federal Reserve's Daly: Expects two rate cuts in 2025, tariff impact may be weaker than expected

San Francisco Fed President Daly said she still believes there could be two rate cuts this year, and noted that the possibility is rising that tariffs are having a more moderate impact on prices than expected. Daly revealed that some companies are negotiating to share the cost of tariffs, thereby reducing the proportion passed on to end consumers. She said the U.S. economy is in good shape, with economic growth and consumer spending slowing, but not weakening. Inflation is moving toward the Fed's 2% target. "I think there may be two rate cuts, but there is uncertainty in everyone's expectations, and consider implementing rate cuts in the fall," Daly said. [Odaily Planet Daily]