San Francisco Fed Pres. Mary Daly is speaking and says that she:Supported rate cutRate cut was appropriateStill have inflation above target, need to get it downLabor market has softened quite a bitNeed to keep policy modestly restrictiveOpen mind on December50 bps of cuts this year makes Fed better-positionedNeed to make decision that balances risksNot a more divided Fed than beforeWouldn’t even use the word 'divided'Disagreement is usually what you see when world is uncertain.Everyone should 1 of the FOMC to debate and disagree.Government data is the only data we get.Looking ahead requires talking with people.We have less information than used to, but can still make a decision as neededLabor market doesn't look like it's on a precipiceWill there was a risk, inflation is is still printing around 3%The Fed cut rates by 100 basis points in 2024. It may be that they cut by 50 basis points in 2025. The Fed is currently driving in a fog with less data. That could lead to mistakes if they don't see something. I am sure the Fed is doing all it can to drive through the fog by getting information from other sources. The Fed is closer to neutral that they were 2 cuts ago. inflation may be lower than expectations but it is still at 3%. This article was written by Greg Michalowski at investinglive.com.