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Fed Dove Daly Joins Officials Open to 75 Basis-Point July Hike

  • ‘75 in July is where I’m starting,’ she tells reporters
  • Says rate hikes will have moderate effect on broader economy
Mary Daly

Mary Daly

Photographer: David Paul Morris/Bloomberg
Updated on

Another Federal Reserve official has lined up with those who favor following last week’s 75 basis-point interest-rate increase with the same again next month to curb rampant inflation.

“Seventy-five in July is where I’m starting because I think that right now, that looks like what we’ll need to do,” Federal Reserve Bank of San Francisco President Mary Daly told reporters Friday following a speech in Orange, California. “But I’ll be watching to see any signs that we are less sure about the tightening level that’s already taking place.”