On Monday, San Francisco Fed President Mary Daly said that the time is nearing for rate cuts and that there may be a need for more than two cuts this year. The Fed has three policy meetings left this year. Two Fed governors, Christopher Waller and Michelle Bowman, dissented on the Fed’s decision last month in favor of easing.

The U.S. Federal Reserve may need to cut interest rates in the near term in response to a slowing U.S. economy, even though it remains unclear whether tariffs will continue to push inflation higher, Minneapolis Fed President Neel Kashkari said on Wednesday.

Minneapolis Fed President Neel Kashkari sees the economy cooling enough to require a response from the Federal Reserve, he said in a broadcast interview on Wednesday.  He still sees two rate cuts as appropriate this year.