Fed's Daly: Policymakers will be ready to lower interest rates soon

Federal Reserve (Fed) Bank of San Francisco President Mary Daly said that policymakers will be ready to cut the interest rates soon, adding that inflation stemming from tariffs will likely prove temporary, Bloomberg reported on Sunday. 

Key quotes

It will soon be time to recalibrate policy to better match our economy.
Both mandates are in tensions now.
Tariffs are pushing inflation higher and the labour market is slowing.
I think tariff-relates price increases will be a one-off.
It will take time before we know that for certain but we can't wait for perfect certainty without risking harm to the labour market.

Market reaction

At the time of press, the US Dollar Index (DXY) was up 0.07% on the day at 97.85.