Salem Radio Network News Sunday, August 7, 2022

Business

Fed’s Daly: 3.4% a ‘reasonable place’ to get to by year end on rates

(Reuters) – A year-end Federal Reserve interest rate of 3.4% is a “reasonable place” to get to, San Francisco Fed President Mary Daly said on Wednesday.

Daly, in an interview with Reuters, also said she does not believe the U.S. central bank has yet reached the threshold for its policy rate to be considered restrictive, seeing that as more at the 3% level than the Fed’s current policy rate range of 2.25% to 2.50% after last week’s meeting.

(Reporting by Lindsay Dunsmuir and Dan Burns; Editing by Chizu Nomiyama)

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