Federal Reserve's Daly: Considering implementing interest rate cuts in the fall, expects two rate cuts in 2025

On July 11, according to Jinshi Data, San Francisco Fed President Daly said that she still believes there may be two rate cuts this year, and pointed out that the possibility of tariffs having a more moderate impact on prices than expected is increasing. Daly revealed that some companies are negotiating to share the cost of tariffs, thereby reducing the proportion passed on to end consumers. She said that the U.S. economy is in good condition, and economic growth and consumer spending are slowing down, but have not weakened. Inflation is moving towards the Fed's 2% target. Daly said, "I think there may be two rate cuts, but everyone's expectations are uncertain, and consider implementing rate cuts in the fall." [Deep Tide TechFlow]