According to San Francisco’s Fed President, Mary Daly, the central bank’s decision to cut rates thrice this year will ensure that the US economy is safer from rising external risks such as the weakness in global economic growth in the near future. Daly made these comments while speaking at an event in New York University on Monday.

Defending the Fed’s rate cut decision, Daly remarked, “It’s about getting the economy in a good place… so that we can continue to push against the considerable headwinds against the U.S. economy.”

Reinforcing Fed’s recent decision to turn dovish in the face of growing economic uncertainty, Minneapolis Fed President Neel Kashkari also chimed in, saying that the Fed should not consider hiking interest rates anytime soon until US inflation closes in on the 2% target set by the central bank.

Stating such a commitment towards delaying hawkishness within the Fed’s forward guidance could potentially boost inflation growth, according to Kashkari. In September, core CPI in the US had touched 1.7%, and has remained below the 2% target since December 2018.