San Francisco Fed's Daly is on the wires and says: Likely some policy adjustments will be warrantedRecent inflation prints a relief, but progress bumpyMy expectation is inflation will come down gradually, labor market is gradually slowingEconomy looks to be on path where 1 or 2 rate cuts this year would be 'more or less' the appropriate pathNeed more information before we can fully take the next stepEvery meeting is liveShelter prices are coming down, but lack of supply means process is slower than in historyStill more room for monetary policy to push down on shelter inflationDecline in super-core ex-housing inflation is welcomeWe are at the point where additional labor market slowing is mor
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