(Reuters) – Being too “abrupt and aggressive” with interest rate increases could be counter-productive to the Federal Reserve’s goals, San Francisco Federal Reserve Bank President Mary Daly said on Sunday, signaling she is not yet prepared to come out of the gate with a half-percentage-point interest rate hike next month.
“So I look at the data, and I see that it is obvious that we need to pull some of the accommodation out of the economy, but history tells us with Fed policy that abrupt and aggressive action can actually have a destabilizing effect on the very growth and price stability that we’re trying to achieve,” Daly told CBS’ “Face The Nation” in an interview.
(Reporting by Dan Burns and David Lawder; Editing by Bill Berkrot)
