Daly favours Fed’s gradual normalisation policy

Federal Reserve

San Francisco Fed president Mary Daly declared she is in favour of the Fed’s gradual pace of normalisation in her first public comment since becoming a Federal Open Market Committee member. 

In her speech on October 15, Daly said the way she is approaching policy is “very consistent with the way the FOMC approaches it”.

She likened its approach to putting a toe in the water and seeing “how many ripples it makes in the economy”. She explained this is important because monetary policy is not a

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