San Francisco Fed President Mary Daly told CNBC yesterday, “I see a couple of 50-basis-point hikes immediately in the next couple of meetings to get there. And then we need to look around and see what else is going on.” She estimates that neutral rate is at around 2.50%, and said , “let’s get there as quickly as we can.”
“I’m looking for both supply to recover somewhat and demand to come back down a little bit. If neither of those things cooperate, then we need to go into restrictive territory,” Daly added.
