Fed’s Daly (still going!) – Need more urgency on moving rates higher, likes 0.25% in March

Mary Daly is President and Chief Executive Officer of the Federal Reserve Bank of San Francisco

Eamonn Sheridan

Wednesday, 23/02/2022 | 23:05 GMT-0

23/02/2022 | 23:05 GMT-0

Earlier from Daly:

More again from Fed’s Daly – Policy is too accommodatingMore from Fed’s Daly – 4 hikes is my preference, but most likely it’ll be moreFed’s Daly:  Inflation  is too high and has spread beyond covid-affected sectors

Even more now:

need ‘a little more urgency’ on moving interest rates upshould start with a quarter-point interest rate hike in March, too early to call for half-point hikedown the road can decide if half-point hikes are necessaryhave adjusted stance to call for more tightening as inflation has broadened, labor supply hasn’t recovered, supply chains still disruptedshould get balance sheet reduction underway earlier, not later in the year as had previously thoughtraising rates by a quarter point every other meeting ‘doesn’t satisfy the moment’we need to get policy in line with economy, but we can’t be ‘impatient’ about doing it all today

Headlines via Reuters

OK, so Daly confirms she is in the quarter point hike in March camp. Daly tends to be reflective of Powell’s views, so I guess 25bps is it.

The Federal Open Market Committee March meeting is on the 15th and 16th.

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