San Francisco Federal Reserve (Fed) President Mary C. Daly noted on Thursday that while the Fed is ready to cut rates when the data says its okay to do so, the US central bank shouldn't be in a rush to do so as the US economy remains firm and sees little risk of faltering.

Key highlights

• Fed's Daly wants to avoid holding rates all the way to 2% inflation.
• Risks of persistent inflation and economic downturn are balanced.
• There is currently no imminent risk of the economy faltering.
• Fed policy is in a good place, but can cut if needed.
• Cutting too quickly could risk inflation becoming stuck.