The Federal Reserve's Daley: The labor market has been fully balanced, and the time has come to adjust policy

The Federal Reserve's Daley said that the labor market is fully balanced and the time has come to adjust policy; it is difficult to imagine what factors will interfere with the September rate cut; as inflation falls back, it is not expected to tighten policy further; there are no signs of sudden weakness in the labor market, no signs of companies preparing to lay off workers; it is too early to judge the extent of interest rate cuts; interest rates move downward.
Daley said that with the inflation-adjusted neutral rate as high as 1 percent, the Federal Reserve must reduce inflation to its 2 percent target.