Odaily Planet Daily News: San Francisco Federal Reserve President Mary Daly said on Wednesday that she "fully supports" the Fed's decision to cut interest rates last week, and said further rate cuts may be needed in the future. Speaking about the Fed's rate cut last week, Daly said: "Economic growth, consumer spending and the labor market have slowed, while inflation has risen less than expected, and is still mainly concentrated in industries directly affected by tariffs. Economic risks have shifted, and it is time to act. Looking ahead, further policy adjustments may be needed to provide necessary support to the labor market while restoring price stability." However, she added that the Fed's forecast is not a commitment, and its goal remains to maintain maximum employment and price stability. Daly had previously said that two 25 basis point rate cuts this year were a reasonable forecast, and she did not update this view on Wednesday.