Federal Reserve Bank of San Francisco President Mary Daly discusses her approach to monetary policy, saying she is “very comfortable” with policymakers’ median projection of two interest-rate cuts in 2025. Daly also touches on why disagreement is a good thing for the central bank, her comfort level with the current rate of inflation, and using history as a guide and available tools on potential tariffs from President-elect Donald Trump.
00:00 – Daly’s approach to interest rate decisions, “it’s always about the data for me”
03:15 – Daly is “very comfortable” with two rate cuts in 2025
04:41 – “New phase” of focusing on inflation and labor market
05:56 – FOMC has “healthy level of discussion and disagreement”
06:55 – How the Fed manages economic uncertainties
08:25 – Don’t break the economy
09:56 – Fed’s Daly is not comfortable with the rate of inflation being 2.5%
12:09 – Daly on Fed’s tools to tackle potential US tariffs
——–
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