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

Jin10 data reported on October 10th, Fed's Daly stated that the weakness in the labor market and inflation levels being “far below” previous concerns validate last month's interest rate cut in the US and prompt the Fed to hint at the possibility of more cuts in the future. Daly mentioned during an event at the Silicon Valley Board Exchange, “The economy is slightly slowing down. Consumers are exhausting all their 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 engage in Risk Management, the weakness in the labor market may appear more concerning.”