The Fed: Fed’s Daly warns against ‘pre-emptive’ interest-rate hikes to cool inflation
The Federal Reserve should not be quick to raise short-term interest rates to cool inflation because there are costs to workers and the economy, said San Francisco Fed President Mary Daly on Tuesday.
“Pre-emptive action isn’t free. Like all insurance there are costs,” Daly said during a speech at the Commonwealth Club in San Francisco.
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