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Loretta Mester, president and CEO of Federal Reserve Bank Cleveland branch and her FOMC colleague Mary Daly, President of the San Francisco Federal branch both spoke on Tuesday.

Mester said:

• Three cuts this year is reasonable but is a 'close call'

Daly was on a similar track:

• Three cuts is a reasonable baseline this year, not a promise

They both had plenty more to say.

M:

• Fed's Mester: Still expects the Fed can cut rates later this year but not at next meeting
• More Mester: Seeing some slowing in the economy, but it is rebalancing
• Mester: Three rate cuts for 2024 is still a reasonable forecast

D:

• Fed's Daly: Standing pat is the right policy for the moment
• More from SF Fed Pres.Mary Daly: When we say 2% is inflation goal, we mean it

These two are in contrast to what we heard last week:

• Fed's Waller says may need to hold current rate for longer than expected, no rush to cut
• Waller's remarks have pumped up the US dollar
  • (ps still is too)
• More Fed's Waller: The economy has supported the cautious approach by the Federal Reserve

• Still more from Fed's Waller: If unemployment goes up no reason to panic
• Fed's Bostic say he now anticipates only one rate cut this year
• If economy continues to be healthy, why would we cut rates

Is June on for a cut? Here's the latest from Fed Watch: