Fed’s Daly expresses ‘relief’ over April’s PCE inflation, warns that the fight’s not over

Mary Daly highlighted that while the 2.1% PCE inflation in April brings some relief to Americans, she cautioned that the risks associated with inflation persist. She advocates for two potential interest rate cuts in 2025 contingent upon falling inflation and stable economic growth.

In a prior meeting at the White House, President Donald Trump pressured Fed Chair Jerome Powell for lower interest rates, linking the high rates to slowing growth. The Fed reiterated that all future rate changes will rely solely on economic data, maintaining a careful approach.