San Francisco Fed President Mary Daly told FT, the case for 50bps rate hike in May has grown. “The case for 50, barring any negative surprise between now and the next meeting, has grown,” she said. “I’m more confident that taking these early adjustments would be appropriate.”
Daly noted the US labor market was “very strong” and “tight to an unsustainable level”. “If you want a job in the United States, you can get one and you can probably get multiple jobs at this point,” she said. “If you’re an employer looking for workers, it’s hard to both hire them and retain them.”
