Fed’s Daly says next rate cut more likely in the fall

Federal Reserve Bank of San Francisco President Mary Daly said an interest-rate cut this fall looks more appropriate than moving when policymakers gather in July.

“For me, I look more to the fall,” Daly said Friday in an interview on CNBC. “By then, we’ll have quite a bit more information, and businesses are telling me that’s what they’re going to look to for some resolution.”

Daly called recent inflation data — which has come in unexpectedly tame for three straight months ...