[San Francisco Fed President: Supports Rate Cuts, Overly Tight Policy May Harm American Families] San Francisco Fed President Mary Daly stated that the Federal Reserve's decision to cut rates this week was not an easy one, but Mary Daly ultimately supported the move. Mary Daly pointed out that real wage growth stems from long-term stable economic expansion, and the current expansion is still in its early stages. The Federal Reserve must bring inflation down to the 2% target while protecting the labor market, as overly tight policy could harm American families.