This month, for the first time in over two years, the U.S. Federal Reserve is widely expected to cut interest rates. Mary Daly, the president of the Federal Reserve Bank of San Francisco, is one of 12 people who will decide how aggressive that cut should be. She talks to Kate about inflation, unemployment, the economy and Taylor Swift.  Further Listening: - What the Stock Market Panic Says About the Economy  - Why the Fed Is Steering Away From Rate Cuts  Further Reading: - The Make-or-Break Moment That Will Determine the Economy’s Fate  Learn more about your ad choices. Visit megaphone.fm/adchoices