Fed's Daly: Two rate cuts, more or less, appropriate this year

Aug 15 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly, in an interview following economic reports showing stronger-than-expected retail sales and an unexpected jump in wholesale prices last month, signaled that she is still on board for beginning to ease policy as soon as next month.

A softening labor market, an economy that's slowing but not slow, as weighed against inflation that is still above the Fed's goal "would warrant a couple of cuts sometime this year," Daly told Fox Business' Maria Bartiromo in the interview, which aired late on Friday. "Of course, we will wait to see the data and maybe it'll be fewer, maybe it'll be more, but ultimately, I think two remains a good projection.

"What I don't want to do is be so worried that inflation might come up again or be persistent that we wait for that clarity and don't support the labor market," she said.