It’s too early to know whether policy makers should cut interest rates and whether such a reduction should be a quarter or half percentage point, Federal Reserve Bank of San Francisco President Mary Daly said Thursday in an interview with Bloomberg Television. The Fed is widely expected by investors to cut interest rates in July, with some looking for a 50 basis-point move. “It is too early, from my perspective, to know whether we should use the tool at all and what magnitude of the tool we should apply,” Daly said in an interview with Bloomberg’s Michael McKee. U.S. central bankers left the benchmark lending rate ... (full story)