Economics

Fed’s Daly Urges Gradual Shift, George Focused on Balance Sheet

‘We are not behind the curve,’ San Francisco Fed leader says
Fed’s George says balance sheet may allow flatter rate path

Federal Reserve Bank of San Francisco President Mary Daly — Federal Reserve Bank of San Francisco President Mary Daly
Photographer: David Paul Morris/Bloomberg

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By Laura Curtis and Steve Matthews

January 31, 2022 at 5:03 PM UTC

Updated on

January 31, 2022 at 6:17 PM UTC

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Federal Reserve Bank of San Francisco President Mary Daly said the central bank could raise interest rates as early as March to fight high inflation, but she cautioned against overreacting and tightening policy too quickly.