San Francisco Fed President Signals Imminent Quarter Percentage Point Rate Cut

Mary Daly, President of the Federal Reserve Bank of San Francisco, said the "most likely" outlook involves continued gradual declines in inflation alongside steady and sustainable job growth (Credit: Reuters)

San Francisco Federal Reserve President Mary Daly said on Monday that the time has come to reduce interest rates, with the first cut likely to be a quarter-percentage point decrease.

In an interview with Bloomberg TV, Daly said it would be difficult to envision a scenario that would prevent the U.S. central bank from lowering rates during its upcoming policy meeting on September 17-18.