Fed's Daly says she keeps a 'very open mind' on interest rates and she leans toward more rate cuts in 2026, hard to note if that's one cut or two, according to reports

Supported Fed's decision last week to hold rates steady, but thought case could have been made for a cut. To cut, you'd need to be more confident on inflation, or see labour market as more challenged than data currently shows. Workers feel they are walking on a 'knife's edge'. If job market goes from 'no firing' to "some firing,' Fed may need to cut rates. Sees more vulnerability in labour market than on inflation. would be comfortable holding rates steady for longer if inflation kicks back up.