Fed's Daly: It is still appropriate to adjust by lowering interest rates twice this year. I am satisfied with the Fed's decision in July, but I feel somewhat uncomfortable with repeatedly making the same decision. We may not lower rates twice. It is more likely that we will need to lower rates more times.

Every meeting in the future may consider adjusting policies. Regarding the Fed's decision in July, I am willing to wait for another cycle, but we cannot wait indefinitely. There is still a lot of uncertainty about whether September is suitable for a rate cut.
The job market is not extremely weak, but it is softening, and further softening will be unwelcome. We cannot wait until it is completely certain that inflation will not persist; we must make decisions based on the most likely scenarios. I do not see signs that tariffs have a lasting impact on inflation.