Why the San Francisco Fed President Supports a Rate Cut in December

P.M. Edition for Nov. 24. In an exclusive interview, San Francisco Fed President Mary Daly says she supports a rate cut at the Fed’s next meeting in December. She has rarely been in public opposition with Fed Chair Jerome Powell. Plus, WSJ national security correspondent Michael Gordon discusses the sticking points in negotiations over President Trump’s Ukraine peace plan. And, in an unusual diplomatic move, Chinese leader Xi Jinping called President Trump to discuss Taiwan. Alex Ossola hosts.

Correction: A new report said the share of movies that included tobacco products last year was 10 percentage points higher than in 2023. An earlier version of this podcast incorrectly said it was 10 percent higher. (Corrected on November 25)

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