US Fed should not act urgently when it’s not required, Daly says

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US Fed should not act urgently when it’s not required, Daly says

PALO ALTO, California (Reuters) – San Francisco Federal Reserve Bank President Mary Daly said on Monday there is no urgency to cut U.S. interest rates, with the economy and labor market strong, and inflation still above the Fed’s 2% target.      “The worst thing to do is act urgently when urgency is not required,” Daly said at the Stanford Institute for Economic Policy Research. Daly is one of 19 U.S. central bankers who set U.S. monetary po…