Fed’s Daly Approaches December Rate Call With ‘Open Mind’ (2)

Federal Reserve Bank of San Francisco President Mary Daly said it’s too soon to decide whether policymakers should lower interest rates when they gather in December.

“It’s premature to say definitely ‘no cut,’ or ‘definitely a cut,’” Daly said Thursday at an event in Dublin, adding that the direction of change in policy appeared “neutral.”

“I’ve got about four weeks before the next meeting, and there’s a lot of information that comes out between now and then, and so that’s why I have an open mind,” she said.

Stubbornly high inflation and continued weakness in the labor market are driving ...