The President of the Federal Reserve Bank of San Francisco, Mary Daly, stated that the central bank is likely to continue reducing interest rates in order to address potential weaknesses in the labor market.

Daly made these remarks at the Wall Street Journal's TechLive conference in Laguna Beach, California. She emphasized that she has not come across any data that would suggest a pause in rate cuts. Daly expressed concern about the impact on employment and described the current interest rate as too high for an economy that is moving towards 2% inflation.

These comments reflect ongoing discussions within the Federal Reserve about adjusting monetary policy in response to economic conditions.