San Francisco Federal Reserve President Mary Daly has expressed support for an interest rate cut in December, according to a report by The Wall Street Journal. Daly cited the current state of the labor market as a primary reason for this stance, suggesting a shift in focus towards maintaining employment stability as inflation pressures ease. This commentary adds significant weight to market expectations for a rate adjustment at the upcoming FOMC meeting. As a voting member or influential voice within the Fed, Daly's explicit endorsement signals that the central bank is becoming more comfortable with easing monetary policy to support the economy. The news aligns with broader market anticipation of a dovish pivot. Traders and investors will likely view this as confirmation that the tightening cycle is definitively over, potentially boosting risk assets including cryptocurrencies as liquidity conditions are expected to improve.