Fed's Daly says it is time to consider adjusting borrowing costs, FT reports

Mary Daly, President of the San Francisco Federal Reserve Bank, proposed revisiting the current borrowing costs of 5.25% to 5.5%. Daly considered the labor market as slowing yet not weak, and stressed caution in avoiding a downturn. She showed optimism towards achieving a 2% inflation target. Fed Chair Jerome Powell is expected to speak on the economic outlook soon.