SAN FRANCISCO, June 24 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Monday said she does not believe the U.S. central bank should cut rates before policymakers are confident that inflation is headed toward 2%.
"I do think that preemptive cutting is something that you do when you see risks, but right now what I see is a strong labor market that's come into balance," Daly told the Commonwealth Club in San Francisco. "Not taking preemptive action when it's not necessary is so important, because if you take preemptive action and it's not necessary, you leave inflation at 3%." (Reporting by Ann Saphir Editing by Chris Reese)
