Fed's Daly: Weak labor market and slowing inflation prove that Fed's rate cut is reasonable.

[Fed Daley: Weak Labor Market and Slowing Inflation Justify Fed Rate Cuts] Fed Daley stated that the weakness in the labor market and inflation levels being "far below" previous concerns justify last month's rate cuts in the U.S. and prompted the Fed to signal the possibility of more rate cuts in the future. Daly stated at an event of the Silicon Valley Board of Directors: "The economy is slowing slightly. Consumers are depleting all the excess savings they may have, and they have been coping with higher price levels. In addition, we also have restrictive monetary policy." She concluded, "We are at a critical point now, and if we do not manage risks, the weakness in the labor market may look more concerning." ( Jin Ten )