NEW YORK (Reuters) -Federal Reserve Bank of San Francisco President Mary Daly said on Thursday the time to cut rates is nearing, without saying when she believes that should happen.

"I really am of the view that it's time" to weigh the need to cut rates "to ensure" the economy stays in the good place where it currently resides, Daly said at an event held by Market News International. "I see two cuts ... as a likely outcome," while noting there is still a lot of uncertainty around that outlook, Daly said.