By Ann Saphir

(Reuters) -San Francisco Federal Reserve President Mary Daly on Monday said she supported the U.S. central bank’s interest rate cut last week, and will want to sift through incoming data to assess if another reduction in borrowing costs is warranted at the December 9-10 meeting.

“I thought it was appropriate to take another bit off the policy rate,” she said at the Forum Club of the Palm Beaches in Florida, noting that the U.S. economy has been resilient, and that while inflation is running above the Fed’s 2% target, the labor market has also softened. As for next month’s policy decision, Daly said she will “keep an open mind.”

The Fed’s quarter-percentage-point rate reduction at its October 28-29 meeting was the second such cut of the year, and brought its benchmark polic

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