The head of the Federal Reserve Bank of San Francisco, Mary Daly, who recently took the post of the head of the Federal Reserve Bank, in her first public speech stated the need for a slow and gradual increase in interest rates by the Federal Reserve System. Her views on the outlook for the American economy coincide with the opinion of the head of the Federal Reserve Bank of New York, John Williams, that at the moment the US economy is stable – not too overheated and not too cooled. Daly noted a low unemployment rate of 3.7% and an inflation target of 2%. The recent volatility in the markets did not bother her, and she supports the Fed’s rate of further gradual rate hikes.
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