Fed's Daly: If inflation is stickier, there may be fewer than two rate cuts this year

Daly of the Federal Reserve stated that he is satisfied with the expectation of two interest rate cuts this year, but if inflation is more sticky, the number of rate cuts this year may be less than two. If economic growth slows down, further rate cuts will be made, gradually lowering policy rates, and there is no urgency to do so. The only commitment of the Federal Reserve is to restore price stability. Currently, the United States has a stable labor market, but still needs to achieve price stability.