Mary Daly, President of the San Francisco Federal Reserve, advocates for a cautious approach to interest rate cuts, emphasizing a gradual adjustment rather than a rapid decrease. She believes the U.S. economy is not yet at a point where drastic cuts are warranted and cites ongoing progress in inflation control as a key factor in her stance. Her comments come ahead of the Jackson Hole economic symposium and highlight a growing debate within the Fed regarding the appropriate pace of rate adjustments.