Federal Reserve official Daly stated in an interview that she would be satisfied with two rate cuts in 2025. She mentioned that both the economy and policy are in good shape, allowing the Federal Reserve to return to a more typical gradual policy approach. The recent interest rate decisions were quite difficult, which seems to echo Chairman Powell's remarks at the FOMC press conference. She indicated that some companies are stocking up ahead of Trump's proposed tariff policy. It's hard to say whether tariffs will lead to inflation; what's more important is the range and magnitude of time.