Fed’s Daly advocates for a ‘measured’ approach as rate hike expectations rise

The Federal Reserve should be measured in its path to raise interest rates, San Francisco Fed President Mary Daly said on Sunday.

“It is obvious that we need to pull some of the accommodation out of the economy. But history tells us with Fed policy, that abrupt and aggressive action can actually have a destabilizing effect on the very growth and price stability we’re trying to achieve,” Daly said on CBS’ “Face The Nation.”

“The most important thing is to be measured in our pace and, importantly, data-dependent,” Daly added.

The Fed is…