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Jan 7 (Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Friday said she supports gradual rate hikes this year and would like to start shrinking the central bank’s balance sheet faster than the last time the Fed did so.
“I would prefer to see us adjust the policy rate gradually and move into balance sheet reduction earlier than we did in the last cycle,” Daly said at the annual meeting of the American Economic Association, held virtually because of the pandemic. She said she would not prefer to start shrinking the balance sheet simultaneously with the first Fed rate hike, but could imagine adjusting the balance sheet after one or two rate hikes.
Reporting by Ann Saphir
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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