"Warning from Fed's Daly: Premature to Anticipate Rate Cuts"

San Francisco Federal Reserve President Mary Daly cautioned against premature expectations of rate cuts, emphasizing the need for further evidence of inflation returning to the central bank's 2% target rate. Despite market bets on rate reductions, recent data shows inflation remains up 3% compared to a year ago, with consumers continuing to spend and businesses hiring. The Federal Reserve is expected to hold interest rates steady at their next meeting at the end of January.