Asked in a Wall Street Journal interview early on Monday about her preferred rate-hike size for the Jan. 31 to Feb. 1 meeting, San Francisco Fed President Mary Daly said both 25 and 50 basis point rate hikes are “on the table” for her.
Getting there in “gradual steps does give you the ability to respond to incoming information” and take account of the delayed effect of higher borrowing costs on the broad economy, Daly said. After nearly a year of aggressive rate hikes designed to slow the economy and bring soaring inflation to heel, Fed policymakers say they are encouraged by the recent slowing in jobs and wage growth that could signal cooler inflation ahead.Article content
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