Fed’s Daly says patience is needed to finish the job on inflation

The Federal Reserve should take its time before cutting interest rates, given the risks that some of the factors that have been pushing down inflation might peter out or even reverse, San Francisco Fed President Mary Daly said on Friday. “We will need to resist the temptation to act quickly when patience is needed, and be prepared to respond agilely as the economy evolves,” Daly said in a speech at the National Association for Business Economics conference in Washington, D.C.She said